Statement re Credit Ratings

RNS Number : 3655F

Avation PLC

27 July 2016

 

AVATION PLC

("Avation" or "the Company")

RATING OUTLOOK

Avation PLC (LSE: AVAP), the commercial passenger aircraft leasing company advises that Fitch Ratings has affirmed Avation's credit rating outlook.

Fitch Ratings said in a press release: "Fitch Ratings-New York-26 July 2016: Fitch Ratings has affirmed Avation PLC's (Avation)  long-term Issuer Default Rating (IDR) at 'B+' and its senior unsecured debt rating at 'B+/RR4'. The Rating Outlook is Stable. These  actions  are  being  taken  in  conjunction  with  a  broader  aircraft  leasing  industry  peer  review  conducted  today  by  Fitch,  which  includes  five  publicly  rated  firms.  For  more  commentary  on the  broader  sector review,  please  see  'Fitch  Completes Aircraft Lessor Peer  Review', available at 'www.fitchratings.com'."

-ENDS-

More information on Avation can be seen at: www.avation.net

Enquiries:

Avation Jeff Chatfield, Executive Chairman

T: [phone]

Notes to Editors:

Avation PLC is a commercial passenger aircraft leasing company owning and managing a fleet of jet and turbo prop aircraft which it leases to airlines across the world. The Company's customers include Vietjet, Thomas Cook, Air France, Condor, Air Berlin, Flybe, Scandinavian Airlines, Air India, Virgin Australia, Fiji Airways and UNI Air.  

Avation is the second largest lessor customer of ATR aircraft globally and the Company is one of a small number of aircraft lessors which have both a sales contract and option positions with ATR. ATR 72 aircraft command approximately 80% - 85% of the current world's 70-seat turboprop market sales.

www.avation.net

 

END

 

 

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