KBRA Assigns Preliminary Rating to Business Jet Securities 2019-1, LLC, Secured Notes, Series 2019-1

NEW YORK–(BUSINESS WIRE)–Kroll Bond Rating Agency (KBRA) assigns a preliminary rating to one note
class of Business Jet Securities 2019-1, LLC, Secured Notes, Series
2019-1. The Notes are newly issued asset-backed securities secured by
payments due under the lease of, and loans secured by, business jet
aircraft and the economic ownership of each business aircraft and
helicopter subject to an operating lease and terms of the fixed rate
notes as of June 4, 2019.


As of March 31, 2019, the aggregate asset value is approximately $623
million. The portfolio is comprised of 35 assets to 27 obligors. The
average asset value is approximately $17.8 million and the weighted
average remaining term is approximately 89 months with further detail
regarding contract terminations provided below. Approximately 55.2% of
the portfolio is initially on operating leases, while 12.6% are loans
and 32.2% are finance leases.




 


 


 




 


 


 




Notes


 


 


 


Rating


 


 


 


Initial Note Amount


Class A


 


 


 


A- (sf)


 


 


 


$417,400,000


Class B


 


 


 


NR


 


 


 


$62,300,000


Class C


 


 


 


NR


 


 


 


$37,400,000


















 


To access ratings, reports and disclosures, click here.


Related Publications: (available at www.kbra.com)


Business
Jet Securities 2019-1, LLC, Secured Notes, Series 2019-1 Pre-Sale
Report


Global
Equipment Lease & Loan ABS Rating Methodology


Global
General Rating Methodology for Asset-Backed Securities


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About KBRA and KBRA Europe


KBRA is a full-service credit rating agency registered with the U.S.
Securities and Exchange Commission as an NRSRO. In addition, KBRA is
designated as a designated rating organization by the Ontario Securities
Commission for issuers of asset-backed securities to file a short form
prospectus or shelf prospectus. KBRA is also recognized by the National
Association of Insurance Commissioners as a Credit Rating Provider, and
is a certified Credit Rating Agency (CRA) by the European Securities and
Markets Authority (ESMA). Kroll Bond Rating Agency Europe Limited is
registered with ESMA as a CRA.


Contacts

Analytical:Cecil Smart, Jr.,
Managing Director(646) 731-2381csmart@kbra.com
Usman
Khan, Associate Director(646) 731-2488ukhan@kbra.com
Zara
Shirazi, Director(646) 731-3326zshirazi@kbra.com
Shi
Shen, CFA, Associate(646) 731-2480sshen@kbra.com