Kroll Bond Rating Agency assigned preliminary ratings to three series of notes issued by KDAC Aviation Finance.

Proceeds from the notes will be used to acquire 36 aircraft on lease to 30 lessees located in 24 countries, including one aircraft subject to a letter of intent, for which no new lease has been signed. As of November 8, 2017, the initial weighted average aircraft age of the portfolio is approximately 11.8 years with a weighted average remaining lease term of approximately 4.0 years. The composition of the portfolio consists of 28 narrowbody aircraft (57.7% by value) and eight widebody aircraft (42.3% by value). The initial value of the portfolio is approximately $868.8 million.

The transaction benefits from sufficient credit enhancement and liquidity, as well as a dynamic structure that accelerates principal payments on the Notes in the event of weak performance.