S&P ups Avation

S&P said it raised the rating on Avation plc to BB- from B+, and also raised the long-term issue rating on the guaranteed medium-term notes and the $350 million senior unsecured notes to BB- from B+. The recovery rating on the notes remains 4.

“The upgrade reflects our view that Avation plc will continue to expand its aircraft fleet while maintaining good profitability and stable credit metrics. We expect that the company will continue to build on recent efforts to prudently grow and diversify its earnings concentration,” said S&P in a press release

The outlook is stable.

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