NEW YORK--(BUSINESS WIRE)--KBRA assigns a preliminary rating to one series of notes issued by Willis Engine Structured Trust VII (WEST VII), an aviation ABS transaction. WEST VII represents the eighth aviation ABS transaction, and the fifth rated by KBRA, that is sponsored and serviced by Willis Lease Finance Corporation and its affiliates (Willis or the Company). The Company is comprised of over 300 individuals operating out of 11 offices with headquarters in Coconut Creek, Florida.
Proceeds from the notes will be used to acquire a portfolio of 55 assets (the Portfolio); consisting of 34 narrowbody host engines (72.7% by value), three regional jet host engines (7.2% by value), four airframes (2.8% by value), one widebody host engine (2.7% by value) and six turboprop host engines (12.4% by value) on lease to 18 lessees located in 16 countries, and seven narrowbody host engines off-lease (12.4% by value). The Portfolio has an initial value of approximately $567.9 million.
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- Global Aviation ABS Rating Methodology
- Global Structured Finance Counterparty Methodology
- ESG Global Rating Methodology
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