During the first quarter of 2017, Avolon completed the acquisition of the CIT Group aircraft leasing business (CIT Aviation) and the Dublin-based lessor has provided an update on the activity of both Avolon and CIT Aviation during the quarter and the pro-forma combined fleet details for the end of the quarter. During the period, Avolon raised $8.5 billion in the public capital markets to finance the acquisition of CIT Aviation, and increased its debt facilities by c. US$420 million during the quarter providing additional financial flexibility. The entity was rated by all three agencies: Fitch (BB), Moody’s (Ba3) and S&P
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