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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190213005587/en/