NEW YORK--(EON: Enhanced Online News)--Kroll Bond Rating Agency (KBRA) has assigned an issuer rating of BBB with a stable outlook to Nordic Aviation Capital Designated Activity Company (“NAC” or “the Company”), an aircraft leasing company based in Denmark.
The BBB issuer rating of NAC reflects the Company’s strong, seasoned management team, valuable industry relationships with turboprop operators and manufacturers, substantial market share of leased turboprop aircraft further strengthened by recent acquisitions, solid fleet growth plan and growing market presence within the regional aircraft space. Additionally, KBRA incorporated NAC’s sound historical financial performance and stable aircraft leasing industry outlook into its analysis. Primary constraints include NAC’s principally focused business model although partially mitigated by recent and marked expansion into the regional aircraft sector, relatively high asset encumbrance, and exposure to the competitive and cyclical global passenger airline industry.
KBRA’s rating report for NAC is available here.
The rating was assigned using KBRA’s Finance Company Rating Methodology, published on April 1, 2013.
About Kroll Bond Rating Agency
KBRA is registered with the U.S. Securities and Exchange Commission as a Nationally Recognized Statistical Rating Organization (NRSRO). In addition, KBRA is recognized by the National Association of Insurance Commissioners (NAIC) as a Credit Rating Provider (CRP).