Moody’s rates first aircraft ABS in 10 years

By Jennifer Kang
20 Jan 2021

Castlelake priced the first aircraft securitization since the pandemic on Wednesday, kindling hopes of revival in a battered sector most severely hit by Covid-19. The deal is also the first aircraft transaction that Moody’s has rated in more than 10 years, following a change in rating methodology by the company.

The $595m transaction consists of just the class ‘A’ and ‘B’ notes, a deviation from previous Castlelake deals which have been accompanied by a ‘C’ tranche in the $65m-$79m range. Unlike the seniors, ‘C’ tranches are still trading at “severely depressed” prices and at an irregular pace, ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial