“We’re very delighted to receive the issuer IG rating reaffirmations from the three credit agencies,” Patrick Hannigan, CEO of CDB Aviation, said. “These endorsements acknowledge the continued strength of our operating platform and the robust success of our top calibre team’s ongoing efforts to position the business to deliver from a position of strength to meet both the near-term and long-term needs of our airline customers and further advance growth momentum during these unprecedented times.”
S&P Global assigned an ‘A’ long-term issuer credit rating with a stable outlook.
Fitch Ratings assigned a long-term Issuer Default Rating (IDR) of ‘A+’ with a stable outlook.
Moody’s assigned an ‘A1’ local currency and foreign currency issuer ratings with a negative outlook.
The reaffirmed ratings also underscore “the unwavering support of our shareholder, CDB Leasing, and the unique resources of China Development Bank, for which we are grateful,” according to Hannigan, who emphasized the support is key, especially during these challenging times, “enabling us to advance the disciplined growth of our global footprint, fleet and market presence.”
In light of evolving aviation market dynamics, CDB Aviation will continue to capitalize on the enhanced flexibility facilitated by these ratings in order to “diversify our financing sources and investor base, while maintaining our highly competitive market position as a leading, global full-service lessor,” Hannighan said.
CDB Aviation is a wholly owned Irish subsidiary of China Development Bank Financial Leasing.
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