New York, June 22, 2015 -- Moody's Investors Service affirmed the B1 corporate family and B2 senior unsecured ratings Fly Leasing Limited (Fly) and changed the rating outlook to positive from stable. Moody's action follows Fly's announcement that it will sell a portfolio of 33 older aircraft during 2015 for $985 million, including a pre-tax gain of $35 million.

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