ֳ

Entity - Ultimate Parent

Air Lease Corporation

EU Endorsed, UK Endorsed; Solicited by or on behalf of the issuer (sell side)

ESG Relevance
1
2
3
4
5

01Ratings

RatingActionDateType
BBBAffirmed12-May-2025Long Term Issuer Default Rating
F3Affirmed12-May-2025Short Term Issuer Default Rating
Ratings KeyOutlookWatch
Positive
Negative
Evolving
Stable 

* Ratings displayed in orange denotes EU or UK Unsolicited and Non-Participatory Ratings

Where there was a review with no rating action (Review – No Action), please refer to the “Latest Rating Action Commentary” for an explanation of key rating drivers

*Premium Content is displayed in ֳ Red

Rating History

Date :12-May-202504-Jun-202416-Jun-202328-Jun-202201-Jul-202109-Jul-202023-Mar-202015-Jul-201917-Jul-201824-Jul-201716-Jan-2017
Rating :BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB
Action :AffirmedAffirmedAffirmedAffirmedAffirmedAffirmedAffirmedAffirmedAffirmedAffirmedNew Rating

02Rating Actions

03Insights

04Sector Outlooks

05Securities and Obligations

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Issuer: Air Lease Corporation
Debt Level: senior unsecured
Issue: USD 500 mln 3.25% bond/note 01-Oct-2029
12-May-2025
BBB
Affirmed
Long Term Rating

Rating History
Country: United States
Sectors: Non-Bank Financial Institutions
Disclosures: EU Endorsed, UK Endorsed; Solicited by or on behalf of the issuer (sell side)
senior unsecured; bond/note
CUSIP: 00914AAE2 (Public)
ISIN: US00914AAE29 (Public)
Maturity Date: 01-Oct-2029
Currency: USD
Amount: 500,000,000
Coupon Rate: 3.25%
Placement: Public
Issuer: Air Lease Corporation
Debt Level: senior unsecured
Issue: USD 500 mln 4.25% bond/note 15-Sep-2024
15-Sep-2024
NR
Matured
Long Term Rating

Rating History
Country: United States
Sectors: Non-Bank Financial Institutions
Disclosures: EU Endorsed, UK Endorsed;
senior unsecured; bond/note
CUSIP: 00912XAN4 (Public)
ISIN: US00912XAN49 (Public)
Maturity Date: 15-Sep-2024
Currency: USD
Amount: 500,000,000
Coupon Rate: 4.25%
Placement: Public
Issuer: Air Lease Corporation
Debt Level: senior unsecured
Issue: USD 700 mln 3.25% bond/note 01-Mar-2025
01-Mar-2025
NR
Matured
Long Term Rating

Rating History
Country: United States
Sectors: Non-Bank Financial Institutions
Disclosures: EU Endorsed, UK Endorsed;
senior unsecured; bond/note
CUSIP: 00912XBA1 (Public)
ISIN: US00912XBA19 (Public)
Maturity Date: 01-Mar-2025
Currency: USD
Amount: 700,000,000
Coupon Rate: 3.25%
Placement: Public
Issuer: Air Lease Corporation
Debt Level: senior unsecured
Issue: USD 500 mln 4.625% bond/note 01-Oct-2028
12-May-2025
BBB
Affirmed
Long Term Rating

Rating History
Country: United States
Sectors: Non-Bank Financial Institutions
Disclosures: EU Endorsed, UK Endorsed; Solicited by or on behalf of the issuer (sell side)
senior unsecured; bond/note
CUSIP: 00912XBF0 (Public)
ISIN: US00912XBF06 (Public)
Maturity Date: 01-Oct-2028
Currency: USD
Amount: 500,000,000
Coupon Rate: 4.625%
Placement: Public
Issuer: Air Lease Corporation
Debt Level: senior unsecured
Issue: USD 500 mln 3.625% bond/note 01-Dec-2027
12-May-2025
BBB
Affirmed
Long Term Rating

Rating History
Country: United States
Sectors: Non-Bank Financial Institutions
Disclosures: EU Endorsed, UK Endorsed; Solicited by or on behalf of the issuer (sell side)
senior unsecured; bond/note
CUSIP: 00912XAY0 (Public)
ISIN: US00912XAY04 (Public)
Maturity Date: 01-Dec-2027
Currency: USD
Amount: 500,000,000
Coupon Rate: 3.625%
Placement: Public
Issuer: Air Lease Corporation
Debt Level: senior unsecured
Issue: USD 500 mln 3.625% bond/note 01-Apr-2027
12-May-2025
BBB
Affirmed
Long Term Rating

Rating History
Country: United States
Sectors: Non-Bank Financial Institutions
Disclosures: EU Endorsed, UK Endorsed; Solicited by or on behalf of the issuer (sell side)
senior unsecured; bond/note
CUSIP: 00912XAV6 (Public)
ISIN: US00912XAV64 (Public)
Maturity Date: 01-Apr-2027
Currency: USD
Amount: 500,000,000
Coupon Rate: 3.625%
Placement: Public
Issuer: Air Lease Corporation
Debt Level: senior unsecured
Issue: USD 750 mln 3.75% bond/note 01-jun-2026
12-May-2025
BBB
Affirmed
Long Term Rating

Rating History
Country: United States
Sectors: Non-Bank Financial Institutions
Disclosures: EU Endorsed, UK Endorsed; Solicited by or on behalf of the issuer (sell side)
senior unsecured; bond/note
CUSIP: 00914AAB8 (Public)
ISIN: US00914AAB89 (Public)
Maturity Date: 01-Jun-2026
Currency: USD
Amount: 750,000,000
Coupon Rate: 3.75%
Placement: Public
Issuer: Air Lease Corporation
Debt Level: preferred
Issue: USD 250 mln 6.15% preferred stock/security
18-Oct-2024
WD
Withdrawn - Repaid
Long Term Rating

Rating History
Country: United States
Sectors: Non-Bank Financial Institutions
Disclosures: EU Endorsed, UK Endorsed;
preferred; preferred stock/security
CUSIP: 00912X500 (Public)
ISIN: US00912X5005 (Public)
Currency: USD
Amount: 250,000,000
Coupon Rate: 6.15%
Placement: Public
Issuer: Air Lease Corporation
Debt Level: senior unsecured
Issue: CAD 400 mln 2.625% bond/note 05-dec-2024
05-Dec-2024
NR
Matured
Long Term Rating

Rating History
Country: United States
Sectors: Non-Bank Financial Institutions
Disclosures: EU Endorsed, UK Endorsed;
senior unsecured; bond/note
CUSIP: 00912XBH6 (Public)
ISIN: CA00912XBH67 (Public)
Maturity Date: 05-Dec-2024
Currency: CAD
Amount: 400,000,000
Coupon Rate: 2.625%
Placement: Public
Issuer: Air Lease Corporation
Debt Level: senior unsecured
Issue: USD 650 mln 3% bond/note 01-Feb-2030
12-May-2025
BBB
Affirmed
Long Term Rating

Rating History
Country: United States
Sectors: Non-Bank Financial Institutions
Disclosures: EU Endorsed, UK Endorsed; Solicited by or on behalf of the issuer (sell side)
senior unsecured; bond/note
CUSIP: 00914AAG7 (Public)
ISIN: US00914AAG76 (Public)
Maturity Date: 01-Feb-2030
Currency: USD
Amount: 650,000,000
Coupon Rate: 3%
Placement: Public
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06Government Support

Details Of Government Support
Effective Date12-May-2025
Policy Bank or Policy-Focused Non-Bank FI No
Long-Term IDR Driven by Government Support No
Long Term Rating Type Excluding Government Support Long Term Issuer Default Rating

07Disclosures

Original Rating Date
Long Term Issuer Default Rating16-Jan-2017
Short Term Issuer Default Rating21-Jan-2025
Endorsement Status
EU Endorsed, UK Endorsed
Country of ֳ Office
CANADA
Solicitation Status
Long Term Issuer Default RatingSolicited - Sell Side
Short Term Issuer Default RatingSolicited - Sell Side
Country of Analyst
CANADA

08Identifiers

Type:CIK CodeCUSIPCUSIPDow Jones TickerICBLEI
Identifier:000148771200912X00914AAL27775493004NW4M4P8TMMK63

09Criteria

08Apr
2025
Active Criteria
Corporate Hybrids Treatment and Notching Criteria
31Jan
2025
Active Criteria
Non-Bank Financial Institutions Rating Criteria
17Jan
2024
Expired Criteria
Non-Bank Financial Institutions Rating Criteria: Effective 17 January 2024 to 31 January 2025
05May
2023
Expired Criteria
Non-Bank Financial Institutions Rating Criteria - Effective from 5 May 2023 to 17 January 2024
13Jun
2022
Active Criteria
Sukuk Rating Criteria
More Criteria

10Analysts

Ben Schmidt
Primary Rating Analyst

Johann Juan
Secondary Rating Analyst

Credit-Relevant ESG Scale

How relevant are E, S and G issues to the overall credit rating?

5
Highly relevant, a key rating driver that has a significant impact on the rating on an individual basis. Equivalent to "higher" relative importance within Navigator.
4
Relevant to rating, not a key rating driver but has an impact on the rating in combination with other factors. Equivalent to "moderate" relative importance within Navigator
3
Minimally relevant to rating, either very low impact or actively managed in a way that results in no impact on the entity rating. Equivalent to "lower" relative importance within Navigator.
2
Irrelevant to the entity rating but relevant to the sector.
1
Irrelevant to the entity rating and irrelevant to the sector

* ESG Relevance is applicable for international scale ratings only

Ratings KeyOutlookWatch
Positive
Negative
Evolving
Stable 

* Ratings displayed in orange denotes EU or UK Unsolicited and Non-Participatory Ratings

Where there was a review with no rating action (Review – No Action), please refer to the “Latest Rating Action Commentary” for an explanation of key rating drivers

*Premium Content is displayed in ֳ Red