Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers A > Headlines for Avolon TLB Borrower 1 (US) LLC > News item |
S&P rates Avolon loan BBB-
S&P said it assigned its BBB- issue-level rating to Avolon TLB Borrower 1 (US) LLC's amended $4.749 billion term loan B-3, which now matures in 2025.
The co-issuer is Avolon TLB Borrower 1 (Luxembourg) Sarl and the term loan is guaranteed by parent Avolon Holdings Ltd.
The agency also assigned a 2 recovery rating, indicating an expectation that lenders would receive substantial recovery (70%-90%; rounded estimate: 85%) of principal in the event of a payment default.
S&P said the BB+ corporate credit rating reflects the company’s position as the third-largest aircraft lessor and an assessment that it is an insulated subsidiary of Bohai Capital Holding Co. Ltd., whose controlling shareholder is HNA Group, as well as the bb+ stand-alone credit profile on Avolon.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.