S&P Upgrades Avolon's Senior Unsecured notes to BB

Avolon, the international aircraft leasing company, announces that S&P Global Ratings (“S&P”) has upgraded its issue-level rating on the senior unsecured notes due 2022 and 2024 issued by its wholly owned subsidiary Park Aerospace Holdings Limited from BB- to BB, with a stable outlook, the company said.

S&P maintains its BB+ corporate credit rating on Avolon, with a stable 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 a wholly owned, indirect subsidiary of Bohai Capital Holding Co., Ltd., a Chinese public company listed on the Shenzhen Stock Exchange (SLE:000415). Avolon is the world´s third largest aircraft leasing business with a pro-forma owned, managed and committed fleet, as of 30 June, 2017 of 921 aircraft valued at over USD 46 billion.