DUBLIN–(BUSINESS WIRE)–Kroll Bond Rating Agency Europe Limited (KBRA) assigns preliminary
ratings to three series of notes (the “Notes”) issued by Horizon
Aircraft Finance II Limited (“Horizon Cayman”) and Horizon Aircraft
Finance II LLC (“Horizon USA”, and, together with Horizon Cayman, the
“Issuers”).
This is the third term securitization of aircraft managed by
BBAM Aviation Services Limited (“BBAM”) and the second rated by KBRA.
BBAM and BBAM US LP (the “Servicers”) will act as servicers for the
transaction, and have offices located in San Francisco, Dublin, New
York, London, Tokyo, Singapore, Zurich, and Santiago.
Proceeds from the sale of the Notes, together with the equity proceeds,
will be used to acquire 20 aircraft (the “Portfolio”) on lease to
16 lessees located in 13 countries. As of May 31, 2019, the initial
weighted average aircraft age of the Portfolio is approximately
8.5 years with a weighted average remaining lease term of approximately
4.6 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:
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]
Zara
Shirazi, Director, ABS
New York
+1 (646) 731-3326
[email protected]
Danise
Chui, Senior Director, Financial Institutions
New York
+1
(646) 731-2406
[email protected]
Lenny
Giltman, Senior Managing Director, ABS (Rating Committee Chair)
New
York
+1 (646) 731-2337
[email protected]
