Two Global Jet Capital Securitizations Ratings Upgraded by Kroll Bond Rating Agency
March 29 2023 - 08:15AM
Kroll Bond Rating Agency (KBRA) has upgraded all tranches of notes
issued in the Business Jet Securities (BJETS) 2020-1 and BJETS
2021-1 transactions by one rating notch. Global Jet Capital, a
global leader in financial solutions for business aircraft,
originated and services the loans and leases securitized in such
issuances. KBRA took these rating actions following a comprehensive
In upgrading the notes, KBRA considered key performance
metrics such as changes in delinquent or defaulted contracts,
cumulative net loss utilization and debt service coverage, and
loan-to-value ratios. All classes of notes in BJETS 2020-1 and
BJETS 2021-1 have received timely interest and scheduled principal
payments since the closing of such transactions.
“These rating upgrades are a testament to the stellar
performance of Global Jet Capital’s well diversified portfolio and
the continued strength of the business aviation industry,” stated
Vivek Kaushal, Chief Executive Officer. “We are extremely pleased
with the recognition from KBRA and continue to focus on delivering
strong value for both our clients and our investors.”
Global Jet Capital has issued an aggregate of $3.6 billion of
asset-backed security (ABS) notes collateralized by business
aircraft loans and leases through its BJETS securitization program.
The company is a programmatic issuer in the ABS market, having
completed six transactions since its inaugural issuance in 2018.
Global Capital awarded BJETS 2020-1, the first aviation ABS to come
to market following the start of the COVID pandemic, “ABS Deal of
The Year” in its 2021 US Securitization Awards.
About Global Jet Capital
With more than $3.5 billion in originations, Global Jet Capital
provides financing solutions for the business aircraft market. The
Global Jet Capital management team has served the business aircraft
industry for a combined 250-plus years and has completed over 3,500
aircraft transactions. The Company has the expertise, financial
strength, industry relationships and infrastructure necessary to
offer a variety of flexible financing solutions at the speed the
market requires. Visit www.globaljetcapital.com to learn more.
- Vivek Kaushal, Global Jet Capital, Chief Executive Officer
Aimee Talbert Nardini
Global Jet Capital