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KBRA Assigns Preliminary Ratings to Pioneer Aircraft Finance Limited

May 13, 2019

DUBLIN--(BUSINESS WIRE)--May 13, 2019--

Kroll Bond Rating Agency Europe Limited (KBRA) assigned preliminary ratings to three series of notes (the “Notes”) issued by Pioneer Aircraft Finance Limited (“Pioneer Cayman”) and Pioneer Aircraft Finance LLC (“Pioneer USA”, and, together with Pioneer Cayman, “Pioneer”, or the “Issuers”).

The transaction is serviced by Goshawk Management (Ireland) Limited (“Goshawk”, the “Servicer” or the “Company”). KBRA notes that certain entities affiliated with Goshawk will collectively acquire a minority portion (10%) of the equity.

Goshawk, founded in 2013, is a full-service aircraft lessor with an experienced management team. Goshawk is based in Dublin, Ireland and has approximately 90 full-time employees.

Proceeds from the sale of the Notes will be used to acquire 18 aircraft (the “Portfolio”) on lease to 18 lessees located in 15 countries. The initial weighted average aircraft age of the Portfolio is approximately 5.3 years with a weighted average remaining lease term of approximately 5.1 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 )

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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.

View source version on businesswire.com:https://www.businesswire.com/news/home/20190513005660/en/

CONTACT: 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

Rosemary Kelley, Senior Managing Director, ABS (Rating Committee Chair)

New York

+1 (646) 731-2337

rkelley@kbra.com

KEYWORD: UNITED KINGDOM UNITED STATES EUROPE NORTH AMERICA NEW YORK IRELAND

INDUSTRY KEYWORD: TRANSPORT AIR PROFESSIONAL SERVICES BANKING FINANCE

SOURCE: Kroll Bond Rating Agency Europe Limited

Copyright Business Wire 2019.

PUB: 05/13/2019 12:28 PM/DISC: 05/13/2019 12:28 PM

http://www.businesswire.com/news/home/20190513005660/en