Moody’s rates Global Aircraft Leasing notes Ba2

Moody’s Investors Service said it assigned a Ba2 rating to the five-year senior unsecured notes issued by Global Aircraft Leasing Co., Ltd., a newly formed entity which holds Bohai Leasing Co., Ltd.'s 70% shareholder interest in commercial aircraft leasing concern Avolon Holdings Ltd. (Baa3 senior unsecured at subsidiary level).

The outlook is stable.

Avolon's ratings and stable outlook are not affected by GALC's transaction, the agency said.

Moody's said it assigned a Ba2 rating to GALC's senior notes based on the company's 70% ownership interest in competitively well-positioned and profitable aircraft leasing subsidiary Avolon.

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