Fitch affirms Avation

Fitch Ratings said it affirmed the long-term issuer default ratings of Avation plc and its subsidiaries, Avation Capital SA and Avation Group (S) Pte. Ltd., at BB-.

The agency also affirmed Avation Capital SA's unsecured notes rating at BB-.

The outlook is stable.

“The ratings affirmation reflects Avation's current market position as a lessor of turboprop and jet aircraft in the Asia-Pacific and European regions,” Fitch said in a news release.

“Credit strengths include the company's relatively young average fleet age of 2.9 years, excluding finance leases, as of Dec. 31, 2017 (latest available period); currently supportive demand dynamics for the majority of Avation's fleet; solid profitability; and measured fleet growth, which is expected to persist over the outlook horizon.”

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