...+ Dublin-based aircraft lessor Avolon Holdings Ltd., a wholly owned subsidiary of China-based Bohai Capital Holding Co. Ltd., has entered into an agreement to acquire aircraft lessor C2 Aviation Capital LLC (the aircraft leasing business of CIT Group Inc.). + We are assigning our '##+' corporate credit rating to Avolon Holdings Ltd. + At the same time, we are assigning our '###-' issue-level rating and '2' recovery rating to Avolon's proposed $5.5 billion secured term loan. + Additionally, we are assigning our '##-' issue-level rating and '6' recovery rating to its subsidiary Park Aerospace Holdings Ltd.'s proposed $3 billion unsecured note issuance. + The stable outlook reflects our expectation that Avolon's earnings and cash flow will benefit from its proposed acquisition of C2, offsetting the incremental debt the company took on to fund the transaction. Following the acquisition, we expect the company's EBIT interest coverage to remain around 2x and its funds from operations (FFO)-to-debt...
