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On August 4, 2022, S&P Global Ratings raised Avation PLC's long-term issuer credit rating to 'B-' with a stable outlook, from 'CCC'. Concurrently, S&P raised the issue rating on Avation Capital S.A.'s unsecured notes to 'CCC+' from 'CCC-'.
| Date | 4 Aug 2022 |
| Time | 12:50:12 |
| Category | Trading updates |
| ID | 9753U |
Via RNS and SGXNET
AVATION PLC
("Avation" or "the Company")
CREDIT RATING UPGRADE
Avation PLC (AVAP: LSE), the commercial passenger aircraft leasing company advises that on August 4, 2022, S&P Global Ratings raised the long-term issuer credit rating on Avation PLC to 'B-', with stable outlook, from 'CCC' on improving capital structure and liquidity. At the same time, S&P raised the issue rating on Avation Capital S.A.'s unsecured notes to 'CCC+' from 'CCC-', while maintaining a view of modest recovery prospects.
A full copy of the report is available at www.spglobal.com/ratingsdirect.
-ENDS-
Enquiries:
Avation PLC - Jeff Chatfield, Executive Chairman +65 6252 2077
Avation welcomes shareholder questions and comments and advises the email address is: investor@avation.net
Notes to Editors:
Avation PLC is an aircraft leasing company, headquartered in Singapore, owning and managing a fleet of commercial passenger aircraft which it leases to airlines around the world. More information on Avation is available at www.avation.net.