Fitch Withdraws Ratings of Orbit Aircraft Leasing Ltd.
CHICAGO--(BUSINESS WIRE)-- Fitch Ratings has withdrawn the expected ratings for Orbit Aircraft Leasing Ltd. (Orbit). A full list of rating actions is available at the end of this press release.
KEY RATING DRIVERS
The ratings have been withdrawn as they are no longer expected to convert to final ratings in the near term, as SMBC Aviation Capital, the sponsor/seller/servicer for Orbit, has withdrawn the transaction from the market. Fitch has also withdrawn the presale report for the transaction dated Oct. 26, 2015. Fitch may assign the transaction expected ratings again in the future, following an updated analysis of the portfolio and the proposed structure.
Fitch has withdrawn the following expected ratings:
--Class A-1 notes 'A-sf'; Outlook Stable;
--Class B-1 notes 'BBBsf'; Outlook Stable;
--Class C-1 notes 'BBsf'; Outlook Stable.
Additional information is available at 'www.fitchratings.com'.
Additional Disclosures
Solicitation Statushttps://www.fitchratings.com/gws/en/disclosure/solicitation?pr_id=996746
Endorsement Policyhttps://www.fitchratings.com/jsp/creditdesk/PolicyRegulation.faces?context=2&detail=31
ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: HTTP://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE 'WWW.FITCHRATINGS.COM'. PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE 'CODE OF CONDUCT' SECTION OF THIS SITE. FITCH MAY HAVE PROVIDED ANOTHER PERMISSIBLE SERVICE TO THE RATED ENTITY OR ITS RELATED THIRD PARTIES. DETAILS OF THIS SERVICE FOR RATINGS FOR WHICH THE LEAD ANALYST IS BASED IN AN EU-REGISTERED ENTITY CAN BE FOUND ON THE ENTITY SUMMARY PAGE FOR THIS ISSUER ON THE FITCH WEBSITE.
View source version on businesswire.com: http://www.businesswire.com/news/home/20151215006451/en/
Fitch Ratings
Primary Analyst
Peter Manofsky, +1-312-368-2068
Director
Fitch
Ratings, Inc.
70 West Madison
Chicago, IL 60602
or
Secondary
Analyst
Thomas Kaiser, CPA, CFA, +1-312-368-3338
Associate
Director
or
Media Relations:
Sandro Scenga,
+1-212-908-0278
New York
[email protected]
Source: Fitch Ratings
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