CALC received Ba2 backed senior unsecured ratings to its existing USD bonds from Moody’s

Hong Kong, 12 July 2021 - China Aircraft Leasing Group Holdings Limited ("CALC" or the “Company”, HKSE stock code: 01848; together with subsidiaries, the “Group”), a full value chain aircraft solutions provider for the global aviation industry, is pleased to announce that it has received from Moody's Investors Service Pty Ltd (Moody's) a Ba2 long-term senior unsecured ratings to the USD300 million 4.7% bonds due 2022 (HKSE stock code: 05390) and USD200 million 5.5% bonds due 2024 (HKSE stock code: 05391) (the “existing bonds”) issued by its wholly-owned subsidiary CALC Bond 3 Limited with a stable outlook.

CALC has previously received a corporate family rating (CFR) of Ba1 and a foreign currency and local currency issuer ratings of Ba2 from Moody’s with a stable outlook. The ratings of the existing bonds are in line with CALC’s Ba2 issuer rating. Moody’s believes that the bonds are unconditionally and irrevocably guaranteed by CALC; and the payment obligations under the guarantee at all times rank pari passu with CALC's present and future unsubordinated and unsecured obligations.

Mr. Mike Poon, CEO of CALC, commented: “This is the first time CALC to obtain a rating on its existing USD bonds from an authoritative international credit rating, recognizing CALC’s sound credit capability. We believe it will deliver a positive message to our existing and potential debt investors, which will help to boost the liquidity of our existing bonds and guide market performance to the bonds’ fair value. CALC has been maintaining a strong financial standing, especially during these challenging times. Moody’s endorsement will enhance our access to the debt capital market with a lower financing costs as we prepare ourselves for industry recovery in the post-pandemic era.”