KBRA Assigns a Preliminary Rating to AASET 2024-1 Trust
3 Jun 2024 | New York
KBRA assigns a preliminary rating to one class of notes issued by AASET 2024-1 Trust (AASET 2024-1), an aviation ABS transaction. AASET 2024-1 represents the 14th aviation ABS transaction sponsored and serviced by Carlyle Aviation Management Limited (The Company) and its affiliates. The Company is comprised of over 124 individuals operating out of three offices with headquarters in Miami, Florida.
Proceeds from the Class A-1 Notes will be used to acquire a portfolio of 12 assets (the Portfolio); consisting of 10 narrowbody aircraft (70.3% by value) and two widebody aircraft (29.7% by value) on lease (or expected to be on lease to) to 11 lessees located in 10 jurisdictions. As of April 12, 2024 (the Cutoff Date), the weighted average remaining term of the initial lease contracts is approximately 9.2 years. The Portfolio has an initial value of approximately $658.5 million.
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