KBRA Assigns a Preliminary Rating to AASET 2024-1 Trust Class A-2 Notes
27 Jun 2024 | New York
KBRA assigns a preliminary rating to AASET 2024-1 Trust, Class A-2 Notes. The Class A-2 Notes represent the Issuer’s second issuance from AASET 2024-1 following the issuance of the AASET 2024-1, Class A-1 Notes, which closed on June 17, 2024. In conjunction with the issuance of the Class A-2 Notes, KBRA anticipates affirming the rating on the Issuer’s outstanding Class A-1 Notes. The ratings are consistent with the results of our cash flow analysis following the addition of the Class A-2 Notes.
Proceeds from the Class A-1 Notes will facilitate the acquisition of 12 aircraft identified at the time of the closing of the Class A-1 Notes on June 17, 2024 (see KBRA’s AASET 2024-1 New Issue Report for further information). The Class A-2 Notes will facilitate the acquisition of eight additional aircraft. The cumulative Portfolio will include 20 assets; consisting of 17 narrowbody aircraft (71.8% by value) and three widebody aircraft (28.2% by value) on lease (or expected to be on lease to) to 14 lessees located in 12 jurisdictions.
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