Kroll Bond Appraisement Bureau (KBRA) assigns basic ratings to three classes of addendum (the “Notes”) issued by AASET 2018-2 Trust (“AASET 2018-2” or the “Issuer”).
This transaction represents the sixth securitization for ApolloAviationHoldingsLimited (“Apollo” or the“Company”). Apollo was founded in 2002 with a focus on mid-life and end-of-life bartering aircraft and engines. As of September 30, 2018, Apollo had about $5.6billion of assets beneath administration which includes a agile of over 240 narrowbody and widebody aircraft on charter to 110 lessees in 58countries. Additionally, the Company has 11engines busy to bristles counterparties in bristles countries. Apollo Aviation ManagementLimited (the“Servicer”) is an associate of the Company and will act as servicer for the transaction.
Proceeds from the auction of the Addendum will be acclimated to admission 35 aircraft (the “Portfolio”) on charter to 30lessees amid in 25 countries. As of November 1,2018, the antecedent abounding boilerplate aircraft age of the Portfolio is about 13.9 years with a abounding boilerplate actual charter appellation of about 3.6 years. The agreement of the Portfolio consists of 29 narrowbody aircraft (66.6% by value) and six widebody aircraft (33.4% by value). The Portfolio has an antecedent amount of about $734.3million.
The transaction allowances from acceptable acclaim accessory and liquidity, as able-bodied as a activating anatomy that accelerates arch payments on the Loans in the accident of anemic performance. The basic ratings are based on advice accepted to KBRA at the time of this publication. Advice accustomed consecutive to this absolution could aftereffect in the appointment of final ratings that alter from the basic ratings.
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About KBRA and KBRA Europe
KBRA is a abounding account acclaim appraisement bureau registered with the U.S. Balance and Exchange Commission as an NRSRO. In addition, KBRA is appointed as a appointed appraisement alignment by the Ontario Balance Commission for issuers of asset-backed balance to book a abbreviate anatomy announcement or shelf prospectus, is accustomed by the National Association of Insurance Commissioners as a Acclaim Appraisement Provider, and is a certified Acclaim Appraisement Bureau (CRA) by the European Balance and Markets Authority (ESMA). Kroll Bond Appraisement Bureau Europe Limited is registered with ESMA as a CRA.
View antecedent adaptation on businesswire.com: https://www.businesswire.com/news/home/20181026005411/en/
SOURCE: Kroll Bond Appraisement Bureau
Kroll Bond Appraisement AgencyAnalytical Contacts: Alan Greenblatt, Director (646) 731-2496 [email protected] or Caitlin Colvin, Senior Director (646) 731-2465 [email protected] or Michael Lepri, Associate Director (646) 731-3389 [email protected] or Danise Chui, Senior Director (646) 731-2406 [email protected]
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