Fitch revises Avia view to stable

Fitch Ratings said it revised the Avia Solutions Group plc’s outlook to stable from negative.

“The outlook revision reflects our updated assumptions for the aviation industry as well as Avia's updated business plan, reflecting the impact of the coronavirus pandemic and the market conditions. Avia's credit metrics were weak for the rating in 2020 due to the impact of the pandemic on profitability, but we forecast they will return to within our rating sensitivities by end-2021,” the agency said in a press release.

Fitch also affirmed Avia’s BB issuer rating and the BB senior unsecured rating of the $300 million of bonds issued by ASG Finance DAC, which is 100% owned by Avia. The company and its key divisional subsidiaries accounting for over 90% of Avia's consolidated revenues guarantee the bonds.

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