Kroll Bond Rating Agency assigned preliminary ratings to three note classes of Business Jet Securities, LLC, Secured Notes, Series 2018-1.

The notes are newly issued asset-backed securities secured by payments due under the lease of, and loans secured by, business jet aircraft and the economic ownership of each business aircraft subject to an operating lease and terms of the fixed rate notes as of February 14, 2018.

As of November 30, 2017, the aggregate asset value is approximately $741.5 million. The portfolio is comprised of 67 assets to 60 obligors. The average asset value is approximately $10.9 million and the weighted average remaining term is approximately 63 months with further detail regarding contract terminations provided below. Approximately 63.3% of the portfolio is initially on operating leases, while 35.2% are loans and 1.5% are finance leases.