Avation PLC (LSE: AVAP), the commercial passenger aircraft leasing company advises that S&P Global Ratings (“S&P”) has published a research update on the Company and has upgraded the Company’s issuer default rating to BB- (stable outlook).

S&P are also raising the issue rating for Avation Capital S.A.’s $350 million Senior Notes due 2021 issued under the Company’s Global Medium-Term Note Program from B+ to BB-.