Moody’s: No negative rating impact on AerCap aircraft lease ABS from amendment

Moody’s announced yesterday that the execution of Amendment to Exhibit C of the Trust Indenture (the Amendment), to revise the “Prohibited Country” provisions and modify the ability of the servicer, AerCap Ireland Limited, to place a specific aircraft within Nigeria, would not, in and of itself and as of this time, result in a reduction or withdrawal of the ratings currently assigned to the Series 2007-1 Notes (the Notes) issued by Aircraft Lease Securitization Limited. Since the transaction closed in 2007, Nigeria has been on the “Prohibited Country” list, which means that the servicer could not place any aircraft with