Securitization

KBRA Assigns A- Rating to Aviation Capital Group LLC Senior Unsecured Notes

KBRA assigned senior unsecured ratings of A- with negative outlook to $750 million 1.950% senior notes due 2026 to be issued by Aviation Capital Group (ACG), an aircraft leasing company headquartered in Newport Beach, CA. read more

Phoenix American White Paper on Market Trends and Outlook for Aviation ABS

Phoenix American has published a new white paper examining the history, evolution and prospects for aviation ABS in the wake of the COVID-19 pandemic economic downturn. read more

Moody’s Assigns Provisional Ratings to Dell Equipment Finance Trust 2021-2 Notes

Moody’s Investors Service assigned provisional ratings to the notes to be issued by Dell Equipment Finance Trust 2021-2 (DEFT 2021-2). This is the second transaction of the year for Dell Financial Services, a wholly owned subsidiary of Dell. The notes... read more

KBRA Assigns Preliminary Ratings to Signal Rail I LLC, Series 2021-1 Notes

Kroll Bond Rating Agency assigned preliminary ratings to Signal Rail I LLC, Series 2021-1, Class A and Class B notes issued by Signal Rail I LLC, a railcar securitization. The issuer is a special purpose entity and a wholly-owned subsidiary of Signal Rail Holdings. read more

KBRA: Equipment Lease Securitization Sector Displays Positive Credit Performance

Kroll Bond Rating Agency released its equipment loan and lease indices for July 2021. According to the indices, the equipment loan and lease securitization sector continued to display positive credit performance during the June collection period. read more

DLL Closes Eighth U.S. Securitization Transaction at $1B

DLL closed DLLAD 2021-1, a U.S. securitization transaction issuing notes totaling $1 billion. The notes are backed by loans and leases secured with food and agriculture-related equipment. read more

Castlelake Refinances Castlelake Aircraft Structured Trust 2017-1 Transaction

Castlelake Aircraft Structured Trust 2017-1R priced its $315 million Class A notes, $75 million Class B notes and $60 million Class C notes. Castlelake plans to use the net proceeds of the offering to refinance the existing Castlelake Aircraft Structured Trust 2017-1 transaction. read more

Apollo Funds and Merx Aviation Complete Closing of MAPS 2021-1 Aircraft ABS Issuance

Funds managed by affiliates of Apollo Global Management and Merx Aviation, a global aircraft leasing, management and finance company, closed an issuance of $540.12 million of secured notes by MAPS 2021-1 Trust, a Delaware statutory trust. read more

KBRA Assigns Preliminary Ratings to Trinity Rail 2021, Series 2021-1 Notes

Kroll Bond Rating Agency assigned preliminary ratings to Trinity Rail Leasing 2021, Green Secured Railcar Equipment Notes, Series 2021-1, Class A notes and Class B notes issued by Trinity Rail Leasing 2021, a railcar leasing securitization. read more

KBRA Assigns Preliminary Ratings to Blackbird Capital ABS Transaction

Kroll Bond Rating Agency assigned preliminary ratings to Series A notes and Series B notes issued by Blackbird Capital II Aircraft Lease and Blackbird Capital II Aircraft Lease U.S., an aviation asset-based securitization transaction. Air Lease and ALC Aircraft Limited are servicing the transaction. read more

KBRA Assigns Preliminary Ratings to STEAM 2021-3

Kroll Bond Rating Agency assigned preliminary ratings to USQ Rail II and USQ Canada Rail II Series 2021-3 (STEAM 2021-3), a railcar leasing securitization. The securitization is collateralized by a portfolio of 1,961 tank railcars and 1,062 non-tank railcars. read more

Global Container International Completes $253MM Asset-Backed Securitization

Global Container International completed an offering of $253 million fixed rated asset-backed notes secured by marine cargo containers subject to long-term leases. read more

Trinity Industries Refinances Outstanding Debt for Partially-Owned Lease Subsidiaries

Trinity Industries’ partially-owned lease subsidiaries, TRIP Rail Holdings and RIV 2013 Rail Holdings, entered into agreements to refinance more than $1.2 billion in outstanding debt. read more

Encina Equipment Finance Closes Inaugural ABS Transaction at $258.4MM

Encina Equipment Finance priced and closed its first asset-backed securities transaction. The $258.4 million offering was backed by a pool of equipment loans and leases to 43 obligors across a variety of industries. read more

KBRA Assigns Preliminary Ratings to SLAM 2021-1 LIMITED

Kroll Bond Rating Agency Europe assigned ratings to the Series A notes and Series B notes issued by SLAM 2021-1 LIMITED and SLAM 2021-1 LLC, an aviation ABS transaction. SKY Aero Management Limited and SKY Leasing are servicing the transaction. read more

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