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KBRA Upgrades Avolon Senior Unsecured Notes To BBB+

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DUBLIN–(BUSINESS WIRE)–Avolon Holdings Limited (‘Avolon’), the international aircraft leasing company, announces that Kroll Bond Rating Agency (‘KBRA’) has upgraded the rating on its senior unsecured notes to BBB+.

KBRA has upgraded its issue-level rating on all outstanding senior unsecured notes issued by Avolon’s wholly owned subsidiaries, Avolon Holdings Funding Limited and Park Aerospace Holdings Limited, from BBB to BBB+ with a stable outlook. KBRA maintains its BBB+ investment grade issuer rating on Avolon, with a stable outlook.

ENDS

About Avolon

Headquartered in Ireland, with offices in the United States, Dubai, Singapore, Hong Kong and Shanghai, Avolon provides aircraft leasing and lease management services. Avolon is 70% owned by an indirect subsidiary of Bohai Leasing Co., Ltd., a public company listed on the Shenzhen Stock Exchange (SLE: 000415) and 30% owned by ORIX Aviation Systems, a subsidiary of ORIX Corporation which is listed on the Tokyo and New York Stock Exchanges (TSE: 8591; NYSE: IX). Avolon is the world’s third largest aircraft leasing business with an owned, managed and committed fleet, as of 30 June 2019 of 923 aircraft.

Website: www.avolon.aero

Twitter: @avolon_aero

Note Regarding Forward-Looking Statements

This document includes forward-looking statements, beliefs or opinions, including statements with respect to Avolon’s business, financial condition, results of operations and plans. These forward-looking statements involve known and unknown risks and uncertainties, many of which are beyond our control and all of which are based on our management’s current beliefs and expectations about future events. Forward-looking statements are sometimes identified by the use of forward-looking terminology such as “believe,” “expects,” “may,” “will,” “could,” “should,” “shall,” “risk,” “intends,” “estimates,” “aims,” “plans,” “predicts,” “continues,” “assumes,” “positioned” or “anticipates” or the negative thereof, other variations thereon or comparable terminology or by discussions of strategy, plans, objectives, goals, future events or intentions. These forward-looking statements include all matters that are not historical facts. Forward-looking statements may and often do differ materially from actual results. No assurance can be given that such future results will be achieved.

Contacts

Ross O’Connor

Head of Investor Relations

roconnor@avolon.aero

T: +353 1 231 5818

Emmet Moloney

Head of Communications

emoloney@avolon.aero

T: +353 1 556 4429

Jonathan Neilan

FTI Consulting

avolon@fticonsulting.com

M:+353 86 231 4135]

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