Fitch Ratings has upgraded Castlelake Aviation on January 21, 2025, after the recent acquisition by Avolon was finalised last week.
The ratings agency upgraded the company to BBB- from BB with a positive rating outlook. The company's senior secured debt rating was also upgraded to BBB from BB+, as well as its subsidiary Castlelake Aviation Finance to BBB from BB.
Avolon is rated BBB- with a positive outlook by the agency. The lessor had assumed Castlelake's debt of $3.3bn and intends to refinance Castlelake's outstanding senior unsecured notes in the near future.