Fitch Assigns ‘A-‘ to BOC Aviation’s $500 million senior unsecured notes

BOC Aviation has been assigned a rating of A- on $500 million, 3% senior unsecured notes by Fitch Ratings. The unsecured notes, due 2029, are issued under the company’s $10 billion global medium-term note programme and listed on Singapore Exchange Securities Trading Limited in September 2019. BOC Aviation plans to use the proceeds from the issuance to fund new capital expenditure, general corporate purposes including refinancing existing borrowings. The bond rating is equalised with BOC Aviation’s long-term issuer default rating (IDR) and senior unsecured debt rating of ‘A-‘. BOC Aviation’s ratings were last affirmed during Fitch’s aircraft-leasing peer review of