S&P Assigns A Long-Term Rating to ICIL Aero Treasury

MT Newswires Live09-04

S&P Global Ratings assigned A long- and A-1 short-term issuer credit ratings to ICIL Aero Treasury, with a stable outlook on the long-term rating.

ICIL Aero Treasury's ratings are similar to those of ICBC Financial Leasing, as S&P views the former as a core entity of the aircraft lessor, according to a Monday release.

The company has a key role in ICBC Financial Leasing's aviation leasing business and is an important offshore financing platform for its parent.

S&P also sees ICBC Financial Leasing as a core subsidiary of Industrial and Commercial Bank of China (HKG:1398, SHA:601398).

The rating agency believes ICBC Financial Leasing has a long-term commitment to extending liquidity and financial backing to ICIL Aero Treasury.

The company's stable outlook mirrors that of ICBC Financial Leasing and considers S&P's view that it will remain a core business in the next two years.

Changes in the parent's ratings or the status of ICIL Aero Treasury as a core entity will prompt future actions, S&P said.

Price (HKD): $4.25, Change: $-0.030, Percent Change: -0.70%

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