Press Release|ABS
View PDF

KBRA Assigns Preliminary Ratings to volofin Finance (Ireland) II Designated Activity Company and volofin Finance US II LLC

28 Jul 2026   |   New York

Contacts

KBRA assigns preliminary ratings to two classes of notes issued by volofin Finance (Ireland) II Designated Activity Company and volofin Finance US II LLC (together, VFIN 2026-1), an aviation loan ABS transaction.

VFIN 2026-1 represents the second aviation loan ABS securitization sponsored and managed by volofin Capital Management Ltd. (volofin, the Investment Advisor or the Company) following the inaugural issuance in December 2024. Maples Fiduciary Services (Ireland) Limited (Maples or the Loan and Issuer Administrator) will serve as the Loan and Issuer Administrator for the transaction. The volofin platform, founded in 2019, offers financing solutions for aviation investment firms, aircraft lessors, and airlines and is managed by seven senior management members with an average industry experience of 23 years. Since inception, the Company has originated or acquired interest in 67 loan facilities and four EETC tranches with an aggregate commitment amount of just under $3.0 billion, financing 269 aircraft and 161 engines on lease to 101 credit counterparties in 53 countries. The Company’s headquarters is in London with additional offices in New York, South Carolina, and Dublin. The Company will retain 100% of the equity of the subject transaction at closing.

Proceeds from the Notes will be used to acquire a portfolio of 23 loan facilities (the Facilities) comprised of 66 loans (the Loans, and together with the Facilities, the Portfolio). The 23 Facilities include 18 limited recourse facilities (77.3% by loan balance) and five full recourse facilities (22.7% by loan balance). As of April 2026, the Portfolio has an initial aggregate loan balance of approximately $445.8 million, an average loan balance of $6.8 million, and a portfolio LTV of 78.2%. The Portfolio has a weighted average remaining loan term of approximately 5.6 years.

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: 1016213