SMBC Aviation Capital upgraded to A- rating by S&P

The change was prompted by the announcement yesterday (November 29th 2018) that the company received a $1 billion capital contribution from its shareholders, Sumitomo Mitsui Financial Group, Inc. ("SMFG" ) and Sumitomo Corporation ("Sumitomo Corp" ) comprising of $700 million of equity and a $300 million subordinated loan.In addition, S&P identified SMBC Aviation Capital as having one of the youngest and most liquid aircraft portfolios in the aircraft leasing sector.

Commenting on the upgrade, Peter Barrett, CEO of SMBC Aviation Capital, said: "We are pleased to receive this upgrade from S&P, which reflects the strength of our platform, the quality of our portfolio and our shareholders' commitment to this business, which was further evidenced today when we received a $1 billion capital contribution.I would like to acknowledge our team which has played an important role in Today's announcements.They, alongside our shareholders, are what differentiates us in a competitive market."