Dublin | [13] February, 2019: Avolon Holdings Limited (‘Avolon’), the international aircraft leasing company, announces that S&P Global Ratings (‘S&P’) has upgraded the rating on its senior unsecured notes to BB+.

S&P 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 BB to BB+ with a stable outlook. S&P maintains its BB+ corporate credit rating on Avolon, with a stable outlook.