KBRA Assigns Preliminary Ratings to Raptor Aircraft Finance I Limited

NEW YORK–(BUSINESS WIRE)–Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to three series of notes (the “Notes”) issued by Raptor Aircraft Finance I Limited (the “Cayman Issuer”) and Raptor Aircraft Finance I LLC (the “US Issuer”, and, together with the Cayman Issuer, “Raptor 2019‑1”, or the “Issuers”).

This transaction represents the inaugural securitization for Seraph Aviation Management Limited (“Seraph” or the “Servicer”). Seraph is an indirect wholly owned subsidiary of Stellwagen Group Limited (“Stellwagen”), which has its registered office in Malta and has offices in Dublin, Stamford, CT, London and Seoul.

Proceeds from the sale of the Notes will be used to acquire 19 aircraft (the “Portfolio”) on lease to 14 lessees located in 12 jurisdictions. As of June 30, 2019, the initial weighted average aircraft age of the Portfolio is approximately 3.7 years with a weighted average remaining lease term of approximately 7.0 years.

To access ratings, reports and disclosures, click here.

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

• Raptor Aircraft Finance I Limited Pre-Sale Report
• Global Aviation ABS Rating Methodology
• Global Structured Finance Counter Party Methodology

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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:

Alan Greenblatt, Senior Director

(646) 731-2496

agreenblatt@kbra.com

Michael Lepri, Associate Director

(646) 731-3389

mlepri@kbra.com

Danise Chui, Senior Director

(646) 731-2406

dchui@kbra.com

Zara Shirazi, Director

(646) 731-3326

zshirazi@kbra.com

Business Development Contact:

Ted Burbage, Managing Director

(646) 731-3325

tburbage@kbra.com