KBRA Assigns Preliminary Ratings to PK ALIFT Loan Funding 6 LP

KBRA assigns preliminary ratings to the Class A-F Notes, Class A Notes, Class B Notes, Class C Notes, and Class D Notes issued by PK ALIFT Loan Funding 6 LP, an aviation ABS transaction (PKAIR 2025-1). PKAIR 2025-1 represents the fourth aviation loan ABS securitization serviced by Apollo PK Air Management (CLO) LP (Apollo PK, or the Servicer), an affiliate of PK AirFinance (the Company). The PK AirFinance platform, which was founded in 1983, provides financing against aircraft and aircraft engines. The Company’s principal office is in New York with additional offices in London, Luxembourg, Singapore, Tokyo, and Toulouse. As of December 31, 2024, PK AirFinance has originated over $40 billion across 3,000 aviation loans since inception and has a managed portfolio of approximately $3.5 billion secured by approximately 275 aircraft and engines operated by 80 airlines in more than 45 countries. PK AirFinance will retain 100% of the equity of the subject transaction at closing.

Proceeds from the Notes will be used to acquire a portfolio of 41 loan facilities (the Facilities) comprised of 114 loans (the Collateral Obligations, and together with the Facilities, the Portfolio). The 41 Facilities are limited recourse (83.5% by loan balance) and full recourse (16.5% by loan balance). As of March 2025, the Portfolio has an initial aggregate loan balance of approximately $767.9 million, an average Collateral Obligation balance of $6.7 million, and a weighted average remaining loan term of approximately 6.1 years. The Portfolio has a weighted average seasoning of approximately six months.

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