Press Release|ABS
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KBRA Assigns Ratings to Castlelake Aircraft Structured Trust 2025-1

20 Feb 2025   |   New York

Contacts

KBRA assigns ratings to the Class A Notes, Class B Notes, and Class C Notes issued by Castlelake Aircraft Structured Trust 2025-1, an aviation ABS transaction (CLAS 2025-1). CLAS 2025-1 represents the 11th aviation ABS transaction sponsored by the Company. CLAS 2025-1 will be serviced by Castlelake Aviation Holdings (Ireland) Limited and Castlelake, L.P. The Company is comprised of over 220 individuals operating out of eight offices with headquarters in Minneapolis, Minnesota.

Proceeds from the Class A Notes, Class B Notes and Class C Notes will be used to acquire a portfolio of 36 assets (the Portfolio); consisting of 33 narrowbody aircraft and three widebody aircraft on lease to 28 lessees located in 19 jurisdictions. As of December 31, 2024, the weighted average age of the Portfolio is approximately 12.6 years, and the weighted average remaining term of the initial lease contracts is approximately 4.6 years. The Portfolio has an initial value of approximately $999.7 million.

To access ratings and relevant documents, click here.

Click here to view the report.

Methodologies

Disclosures

Further information on key credit considerations, sensitivity analyses that consider what factors can affect these credit ratings and how they could lead to an upgrade or a downgrade, and ESG factors (where they are a key driver behind the change to the credit rating or rating outlook) can be found in the full rating report referenced above.

A description of all substantially material sources that were used to prepare the credit rating and information on the methodology(ies) (inclusive of any material models and sensitivity analyses of the relevant key rating assumptions, as applicable) used in determining the credit rating is available in the Information Disclosure Form(s) located here.

Information on the meaning of each rating category can be located here.

Further disclosures relating to this rating action are available in the Information Disclosure Form(s) referenced above. Additional information regarding KBRA policies, methodologies, rating scales and disclosures are available at www.kbra.com.

About KBRA

Kroll Bond Rating Agency, LLC (KBRA), one of the major credit rating agencies (CRA), is a full-service CRA registered with the U.S. Securities and Exchange Commission as an NRSRO. Kroll Bond Rating Agency Europe Limited is registered as a CRA with the European Securities and Markets Authority. Kroll Bond Rating Agency UK Limited is registered as a CRA with the UK Financial Conduct Authority. In addition, KBRA is designated as a Designated Rating Organization (DRO) by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus. KBRA is also recognized as a Qualified Rating Agency by Taiwan’s Financial Supervisory Commission and is recognized by the National Association of Insurance Commissioners as a Credit Rating Provider (CRP) in the U.S.

Doc ID: 1008211

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