Moody’s upgrades Avolon, debt

Moody's Investors Service said it upgraded the corporate family rating of Avolon Holdings Ltd. to Ba2 from Ba3, the senior secured ratings of Avolon TLB Borrower 1 (US) LLC and Avolon TLB Borrower 1 (Luxembourg) Sarl to Ba1 from Ba2 and the senior unsecured rating of Park Aerospace Holdings Ltd. to Ba3 from B1.

The outlook is stable.

Moody's said it upgraded the ratings to reflect Avolon's progress integrating the operations of C2 Aviation Capital Inc., its prospects for solid operating performance and financial profile since acquiring C2, and the agency’s expectations that the risk profile of parent Bohai Capital Holding Co. Ltd. will improve over the short- to intermediate-term.

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