KBRA assigns preliminary ratings to Business Jet Securities 2021-1, LLC, Secured Notes, Series

Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to three classes of securities of Business Jet Securities 2021-1, LLC, Secured Notes, Series 2021-1. The Securities are newly issued asset-backed securities backed by lease payments and loans secured by business jet aircraft and by the economic ownership of each corporate aircraft subject to operating lease and terms of the fixed rate securities beginning February 23, 2021.

As of December 31, 2020, the aggregate asset value is approximately $ 780.2 million. The portfolio consists of 49 assets to 46 debtors. The average asset value is approximately $ 15.9 million and the weighted average residual maturity is approximately 70 months….

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