BOC gets inaugural BBB credit rating

BOC Aviation has been assigned a corporate credit rating of BBB with stable outlook by Standard & Poor’s  – the first credit rating for the lessor.

BOC Aviation said that this is the highest investment grade corporate credit rating assigned by Standard & Poor’s to any publicly-rated aircraft leasing company.

“BOC Aviation is pleased to receive a second investment grade credit rating,” said Robert Martin, managing director and chief executive officer of BOC Aviation. “This will enable us to further diversify our funding sources and investor base,” he added.

BOC International and Citigroup Global Markets Asia Limited acted as joint advisors to BOC Aviation. BOC Aviation has a portfolio of 188 aircraft with 63 more on firm order. Average fleet age is less than four years.