NEW YORK--(BUSINESS WIRE)--Jun 14, 2018--Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to three note classes of Business Jet Securities 2018-2, LLC, Secured Notes, Series 2018-2. 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 June 14, 2018.

As of March 31, 2018, the aggregate asset value is approximately $821.5 million. The portfolio is comprised of 76 assets to 68 obligors. The average asset value is approximately $10.8 million and the weighted average remaining term is approximately 76 months with further detail regarding contract terminations provided below. Approximately 76.5% of the portfolio is initially on operating leases, while 8.0% are loans and 15.5% are finance leases.

Representations & Warranties Disclosure

All Nationally Recognized Statistical Rating Organizations are required, pursuant to SEC Rule 17g-7, to provide a description of a transaction’s representations, warranties and enforcement mechanisms that are available to investors when issuing credit ratings. KBRA’s disclosure for this transaction can be found in the report available .

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KBRA is a full service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO. In addition, KBRA is recognized by the National Association of Insurance Commissioners as a Credit Rating Provider and 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.

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CONTACT: Analysts:

Cecil Smart, Jr., 646-731-2381

Managing Director

csmart@kbra.com

or

Caitlin Colvin, 646-731-2465

Senior Director

ccolvin@kbra.com

or

Anthony Nocera, 646-731-2350

Senior Managing Director

anocera@kbra.com

or

Usman Khan, 646-731-2488

Associate Director

ukhan@kbra.com

KEYWORD: UNITED STATES NORTH AMERICA NEW YORK

INDUSTRY KEYWORD: TRANSPORT AIR TRAVEL TRANSPORTATION PROFESSIONAL SERVICES BANKING FINANCE

SOURCE: Kroll Bond Rating Agency (KBRA)

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PUB: 06/14/2018 03:10 PM/DISC: 06/14/2018 03:10 PM

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