KBRA Assigns Preliminary Ratings to Global Jet Capital’s Business Jet ABS

Kroll Bond Rating Agency assigned preliminary ratings to three classes of notes issued by Business Jet Securities 2024-1, LLC, a business jet asset-backed securitization transaction sponsored and serviced by Global Jet Capital.

Business Jet Securities 2024-1, LLC, is the seventh business jet ABS transaction from Global Jet Capital and is collateralized by lease payments due for business jet aircraft subject to an operating lease and payments due for loans and finance leases secured by business jet aircraft, as well as the economic ownership of each business jet aircraft subject to an operating lease. Global Jet Capital will be retaining the equity in Business Jet Securities 2024-1, LLC.

As of Jan. 31, the portfolio consists of 31 business jet aircraft with 29 unique obligors with a weighted average age of 6.8 years, a weighted average remaining term of six years and a weighted average original term of 7.8 years. At closing, the subject portfolio has an aggregate asset value of approximately $729.9 million.

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