Avolon Upgraded by Fitch Ratings to BB+ with a Positive Outlook

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DUBLIN--(BUSINESS WIRE)-- 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.

ENDS

About Avolon

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.

Website: www.avolon.aero
Twitter: @avolon_aero