DUBLIN–(BUSINESS WIRE)–Kroll Bond Rating Agency Europe Limited (KBRA) assigns preliminary
ratings to two classes of notes (the “Notes”) issued by JOL Air Limited
(“JOL Air”).
The transaction represents Stratos Aircraft Management Limited’s
(“Stratos”, the “Servicer” or the “Company”) inaugural securitization.
KBRA notes that the Servicer will initially be purchasing a minority
proportion of the Class C Notes issued by JOL Air.
Stratos, founded in 2013, focuses its core business on remarketing and
servicing aircraft. The company is an independent firm comprised of a
team of aviation industry veterans primarily focused on large commercial
aircraft with dual headquarters in Shannon, Ireland and Monaco.
Proceeds from the sale of the Notes will be used to acquire 15 aircraft
(the “Portfolio”) on lease to 11 lessees located in 10 countries. As of
March 31, 2019, the initial weighted average aircraft age of the
Portfolio is approximately 4.0 years with a weighted average remaining
lease term of approximately 8.3 years.
To access the full report, click here.
Disclosures
Further disclosures relating to this rating action are available in the EU
Information Disclosure Form. Additional information
regarding KBRA policies, methodologies, rating scales and disclosures
are available at www.kbra.com.
To access ratings, reports and disclosures, click here.
Related Publications: (available at www.kbra.com)
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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 Contacts:
Gopal Narsimhamurthy, Director, Structured Finance (Lead Analyst)
Dublin
+353
(1) 588 1245
[email protected]
Alan Greenblatt, Senior Director, ABS
New York
+1 (646)
731-2496
[email protected]
Michael Lepri, Associate Director, ABS
New York
+1 (646)
731-3389
[email protected]
Rosemary Kelley, Senior Managing Director, ABS (Rating Committee Chair)
New
York
+1 (646) 731-2337
[email protected]
