KBRA affirms Avolon’s BBB+ ratings; revises outlook to stable

KBRA affirms the BBB+ issuer rating and senior unsecured debt rating of Avolon Holdings as well as the BBB+ ratings on the senior unsecured notes issued by Park Aerospace Holdings and Avolon Holdings Funding. The rating Outlook is changed to Stable from Negative. KBRA stated that the change in Outlook to Stable reflected the significant recovery in passenger air travel in 2021, especially in various domestic markets, as well as Avolon’s stable capital and liquidity metrics through the severe pandemic-driven downturn, despite a greater decline in earnings metrics and higher impairments relative to higher-rated peers. Avolon demonstrated robust access to