March 5, 2021
Business News

KBRA Assigns Preliminary Ratings to Business Jet Securities 2021-1, LLC, Secured Notes, Series 2021-1

NEW YORK–()–Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to three note classes of Business Jet Securities 2021-1, LLC, Secured Notes, Series 2021-1. 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 23, 2021.

As of December 31, 2020, the aggregate asset value is approximately $780.2 million. The portfolio consists of 49 assets to 46 obligors. The average asset value is approximately $15.9 million and the weighted average remaining term is approximately 70 months. Operating leases…

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