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AWAS Aviation Capital Ltd. May 11
Standard & Poors, May 2011
Abstract
A large provider of aircraft operating leases; and A diversified fleet based on aircraft type and location of lessees. Exposure to the cyclical airline industry and fluctuations in aircraft values and rental rates; A weaker financial profile than some of its competitors; and A substantial percentage of assets are secured, which limits options for raising capital. The ratings on Dublin, Ireland-based AWAS Aviation Capital Ltd. reflect its position as a large provider of aircraft operating leases and its diversified fleet and airline customer base. Limiting credit considerations include exposure to cyclical demand and lease rates for aircraft, a weaker financial profile than some of its competitors, and a substantial percentage of encumbered assets, limiting options for raising capital. We characterize...
Companies mentioned in this report are: AWAS Aviation Capital Ltd.
Action: Review
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Full Analysis
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