Avolon Upgraded by Fitch Ratings to BB+ with a Positive Outlook
DUBLIN--(BUSINESS WIRE)--Feb 13, 2019--Avolon Holdings Limited (‘Avolon’), the international aircraft leasing company, announces that Fitch Ratings (‘Fitch’) has upgraded both its issuer and senior unsecured notes ratings to BB+ with a positive outlook.
Fitch has upgraded its Avolon issuer rating from BB to BB+ with a positive outlook. Fitch has also upgraded its issue-level rating on all outstanding senior unsecured notes issued by Avolon’s wholly owned subsidiaries, Avolon Holdings Funding Limited and Park Aerospace Holdings Limited, from BB to BB+ with a positive outlook.
Headquartered in Ireland, with offices in the United States, Dubai, Singapore, Hong Kong and Shanghai, Avolon provides aircraft leasing and lease management services. Avolon is 70% owned by an indirect subsidiary of Bohai Leasing Co., Ltd., a Chinese public company listed on the Shenzhen Stock Exchange (SLE: 000415) and 30% owned by ORIX Aviation Systems, a subsidiary of ORIX Corporation, which is listed on the Tokyo and New York Stock Exchanges (TSE: 8591; NYSE: IX). Avolon is the world’s third largest aircraft leasing business with an owned, managed and committed fleet, as of 31 December 2018 of 971 aircraft.
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T: +353 1 556 4429Jonathan Neilan
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PUB: 02/13/2019 11:36 AM/DISC: 02/13/2019 11:36 AM