Fitch rates Avation notes B+/RR4

Fitch Ratings said it assigned an expected rating of B+(EXP)/RR4 to the offering of senior unsecured notes by Avation Group (S) Pte. Ltd., a subsidiary of Avation plc.

Avation intends to use the net proceeds to purchase, finance and refinance commercial aircraft.

The expected rating on the unsecured notes is equalized with Avation’s long-term issuer default rating, reflecting Fitch's expectation of average recoveries, the agency noted.

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