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Peer Review Yields Several Rating Actions: On June 4, 2024, ���������ֳ� completed its annual global peer review of aircraft lessors, affirming five standalone issuer ratings and upgrading MAHL’s rating to ‘BB+’ from ‘BB’ and DAE’s rating to ‘BBB’, from ‘BBB–’. Additionally, ���������ֳ� revised the Outlook for AER to Positive, from Stable. The Outlook for AVOL remains Positive. ���������ֳ� also affirmed the institutional support-driven ratings for AYR, BOCA and SMBC. The Outlook for BOCA remains Negative, mirroring that of its shareholder, Bank of China Limited (A/Negative). All other Outlooks are Stable.