The paper investigates the small-signal stability of a representative 270 V DC power system for a more-electric aircraft, which incorporates a switched reluctance generator, under various operation conditions, including power control saturation due to current and voltage limits. Non-linear state-space models for the complete system under the various operating conditions are established, and the eigenvalue method is applied to assess the small-signal stability. Time-domain simulations are used to validate the findings of the proposed analysis technique.