Kroll Bond Rating Agency (KBRA) affirmed its rating for Air Lease Corporation on March 24, 2025, maintaining a long-term issuer and senior unsecured debt rating of A-, a preferred shares rating of BBB, and a short-term debt rating of K1. The agency said the company's outlook remains stable.
The agency also affirmed its A- rating on its senior unsecured sukuk trust certificates. AerCap closed its inaugural sukuk issuance of $500 million 4.500% with a five-year maturity period in October 2024.
The agency cited Air Lease's strong financial position, noting its $8.1bn in available liquidity at the end of last year. In addition, it highlighted the company's access to unsecured capital markets and largely unencumbered asset base. KBRA added that upgrades are “unlikely” in the near term due to the “inherent volatility of the aviation sector and the company's reliance on wholesale funding”.