KBRA Assigns Preliminary Ratings to Silver Aircraft Lease Investment Limited

DUBLIN–(BUSINESS WIRE)–Kroll Bond Rating Agency Europe Limited (KBRA) assigns preliminary ratings to three series of notes (the “Notes”) issued by Silver Aircraft Lease Investment Limited (“Silver Ireland”) and Silver Aircraft Leasing LLC (“Silver USA”, and, together with Silver Ireland, the “Issuers”).

The Silver transaction represents the second sponsored securitization for BOC Aviation Limited (“BOCA”) and the first rated by KBRA. BOC Aviation (Ireland) Limited (the “Servicer”) will act as servicer for the transaction and is an affiliate of BOCA, which has offices in Singapore, Dublin, London, New York and Tianjin.

Proceeds from the sale of the Notes will be used to acquire 17 aircraft (the “Portfolio”) on lease to 14 lessees located in 9 countries. As of April 30, 2019, the initial weighted average aircraft age of the Portfolio is approximately 6.0 years with a weighted average remaining lease term of approximately 5.4 years.

To access the full report, click here.

Disclosures

Further disclosures relating to this rating action are available in the EU Information Disclosure Form. Additional information regarding KBRA policies, methodologies, rating scales and disclosures are available at www.kbra.com.

To access ratings, reports and disclosures, click here.

Related Publications: (available at www.kbra.com)

Global Aviation ABS Rating Methodology

Global Structured Finance Counterparty Methodology

Silver Aircraft Lease Investment Limited Pre-Sale Report

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About KBRA and KBRA Europe

KBRA is a full-service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO. In addition, KBRA is designated as a designated rating organization by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus. KBRA is also recognized by the National Association of Insurance Commissioners as a Credit Rating Provider, and is a certified Credit Rating Agency (CRA) by the European Securities and Markets Authority (ESMA). Kroll Bond Rating Agency Europe Limited is registered with ESMA as a CRA.

Contacts

Analytical Contacts:
Gopal Narsimhamurthy, Director, Structured Finance (Lead Analyst)
Dublin
+353 (1) 588 1245
gnarsimhamurthy@kbra.com

Alan Greenblatt, Senior Director, ABS
New York
+1 (646) 731-2496
agreenblatt@kbra.com

Michael Lepri, Associate Director, ABS
New York
+1 (646) 731-3389
mlepri@kbra.com

Zara Shirazi, Director, ABS
New York
+1 (646) 731-3326
zshirazi@kbra.com

Danise Chui, Senior Director, Financial Institutions
New York
+1 (646) 731-2406
dchui@kbra.com

Lenny Giltman, Senior Managing Director, ABS (Rating Committee Chair)
New York
+1 (646) 731-2378
lgiltman@kbra.com