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S&P affirms negative outlook on India, says chances of downgrade remain
Ratings agency Standard & Poor's affirmed India's sovereign rating at "BBB-minus" with a "negative" outlook, reiterating there was a one-in-three chance of a ratings downgrade over the next 12 months, a statement said on Friday. Full Article
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India finance at risk if airlines flout rules - ILFC
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A passenger aircraft is silhouetted against the rising moon in New Delhi May 7, 2009.
Credit: Reuters/B Mathur/Files
DUBLIN |
DUBLIN (Reuters) - India could put at risk the financing needed to support its aviation growth if airlines that cannot pay their bills fail to return aircraft to their owners, the head of U.S. leasing giant International Lease Finance Corp warned on Tuesday.
ILFC has a team of people in India trying to recover four aircraft from troubled Kingfisher Airlines (KING.NS) but has faced bureaucracy and delays, ILFC Chief Executive Henri Courpron told Reuters.
In an interview, Courpron also delivered a warning to planemakers Airbus (EAD.PA) and Boeing (BA.N) that they should not remain too focused on outselling each other at the risk of driving up backlogs to unsustainable levels.
He also said the sale of a majority of ILFC by its insurance parent AIG (AIG.N) to a Chinese consortium was expected to be completed on time in the second quarter.
(Reporting by Tim Hepher; Editing by James Regan)
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