SMBC Aviation Capital Receives Ratings “BBB+” from S&P and “BBB” from Fitch

News provided by SMBC Aviation Capital
Dec 04, 2014 11:55 KST

DUBLIN, IRELAND--(Business Wire / Korea Newswire) December 04, 2014 -- SMBC Aviation Capital, the world’s third largest aircraft lessor, announces that it has been assigned a BBB+ corporate credit rating by Standard & Poor’s (“S&P”) and a BBB long-term issuer default rating by Fitch Ratings (“Fitch”).

BBB+ is now the highest rating that S&P currently has on an aircraft lessor, and both agencies cited a range of positive factors behind their assessments of SMBC Aviation Capital. These included the strategic importance of the company to its shareholders, its diversified customer base, consistent profitability, stable funding costs, active aircraft trading strategy, and high quality, young fleet.

Commenting on the news, Peter Barrett, CEO of SMBC Aviation Capital, said: “We are very pleased to have received such resounding endorsements of the strength of our business from both S&P and Fitch. The ratings are a testament to the quality of our assets, the continuing success of our focused and long-standing strategy, and the strong support that we enjoy from our shareholders. This rounds off a year of significant growth and progress for SMBC Aviation Capital, and we continue to be confident in our prospects for 2015 and beyond.”

Today’s news follows the company’s $8.5bn order for 80 Boeing 737 MAX 8 aircraft last month, as well as the $11.8bn order for 115 Airbus A320 aircraft that it announced in July at the Farnborough Air Show.

SMBC Aviation Capital is the world’s third largest aircraft lessor, with a modern fleet of over 370 owned and managed aircraft valued at more than $10.5bn. The business’s strategy is to own and lease liquid, investor-friendly aircraft assets with continuous trading through the industry cycle to maximise profitability and manage risk. The business has sold more than 240 commercial aircraft valued at over US$7.5bn.

SMBC Aviation Capital has 95 airline customers and over 40 investors in more than 40 countries around the world. It is headquartered in Dublin and has offices in, Tokyo, Shanghai, Beijing, Hong Kong, Singapore, New York, Amsterdam, Toulouse and Seattle.

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