Rating Raised To #B (sf)# On Aeolos# Class A Greek Repack Notes Following Rating Action On Greece

Stocks and Financial Services Press Releases Tuesday June 12, 2018 18:43
LONDON--12 Jun--S&P Global Ratings
LONDON (S&P Global Ratings) June 12, 2018--S&P Global Ratings today raised to 'B' from 'B-' its credit rating on Aeolos S.A.'s EUR355 million floating-rate asset-backed class A notes.

Today's upgrade of the class A notes follows our Jan. 19, 2018 raising to 'B' from 'B-' of our long-term sovereign rating on Greece, which supports interest and principal payments in Aeolos (see "Long-Term Ratings On Greece Raised To 'B'; Outlook Positive").

Our counterparty criteria link our rating on Aeolos' class A notes to our long-term sovereign rating on Greece as the guarantor (see "Counterparty Risk Framework Methodology And Assumptions," published on June 25, 2013).

Therefore, following our recent rating action on Greece, we have consequently raised to 'B' from 'B-' our rating on Aeolos' class A notes.

Aeolos is a Greek repack transaction. The underlying collateral consists of receivables due from The European Organisation for the Safety of Air Navigation for the provision of air traffic control services in Greece.

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