ILFC DEBT REDUCTION NOT ENOUGH FOR AIG

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By admin August 19, 2011 08:46

ILFC DEBT REDUCTION NOT ENOUGH FOR AIG

American International Group, parent of International Lease Finance Corporation (ILFC) is not yet convinced that the company’s debt reductions and maturity extensions are enough to convince investors the lessor can stand on its own in a worsening global economy.

Credit-default swaps on ILFC have more than doubled since May 19, even though Standard & Poor’s raised its senior unsecured debt rating to BBB-. The company’s bonds have lost 5.02% this month, compared with 3.53% for all high-yield debt, according to Bank of America Merrill Lynch index data.

ILFC is being punished in the bond market as airlines come under pressure from rising fuel prices and deteriorating economic growth prospects.

admin
By admin August 19, 2011 08:46
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