Moody’s revises Avolon view to negative

Moody’s Investors Service said it revised the outlook to negative from under review and confirmed the Baa3 backed long-term issuer rating of Avolon Holdings Ltd. and the Baa3 backed long-term senior unsecured ratings of subsidiaries Avolon Holdings Funding Ltd. and Park Aerospace Holdings Ltd.

Moody’s also confirmed the senior secured bank facility ratings at Baa2.

These actions conclude Moody's review of Avolon started on June 1to evaluate the effect of the global downturn in air travel on the company's credit profile.

“Avolon's negative outlook reflects Moody's expectations of a more extended and weaker recovery in air travel that results in higher risks to earnings, cash flow, liquidity and capital positions,” the agency said in a press release.

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