Fitch changes Avolon view to positive

Fitch said it revised its outlook for Avolon Holdings Ltd. and its subsidiaries and affirmed to positive from stable and affirmed its ratings for Avolon Holdings Funding Ltd., Park Aerospace Holdings Ltd., Avolon TLB Borrower 1 (Luxembourg) Sarl and Avolon TLB Borrower 1 (US) LLC and their debt.

“The positive outlook reflects Fitch's expectation that Avolon will maintain strong credit metrics over the next 12-18 months and consistent access to the capital markets. This should support an unsecured funding mix above 70%, and liquidity sources to uses in excess of 1.2x, driven by consistent operating cash flow generation, modest aircraft sales, and manageable upcoming debt maturities and order book deliveries, as well as leverage maintained at or below 2.5x over the outlook horizon,” the agency said in a press release.

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