KBRA Assigns Preliminary Ratings to Thunderbolt III Aircraft Lease Limited

NEW YORK–(BUSINESS WIRE)–Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to two series of notes (the “Notes”) issued by issued by Thunderbolt III Aircraft Lease Limited (“TBOLT III Cayman”) and Thunderbolt III Aircraft Lease US LLC (“TBOLT III USA”, and, together with TBOLT III Cayman, “TBOLT III”, or the “Issuers”).

This is the fourth term securitization of aircraft managed by Air Lease Corporation (“ALC” or the “Company”). ALC and ALC Aircraft Limited (together, the “Servicers”) will act as servicers for TBOLT III. ALC is headquartered in Los Angeles, California, with regional offices in Dublin, Ireland and Hong Kong.

Proceeds from the sale of the Notes will be used, together with the equity proceeds, to acquire 19 aircraft (the “Portfolio”) on lease to 18 lessees located in 15 countries. As of August 31, 2019, the initial weighted average aircraft age of the Portfolio is approximately 9.7 years with a weighted average remaining lease term of approximately 3.8 years.

To access ratings, reports and disclosures, click here.

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



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.


Analytical Contacts:
Alan Greenblatt, Senior Director, ABS

(646) 731-2496


Danise Chui, Senior Director, Financial Institutions

(646) 731-2406


Sandy Azer, Associate Director, ABS

(646) 731-1200


Chris Baffa, Associate Director, ABS

(646) 731-3312


Business Development Contact:
Ted Burbage, Managing Director

(646) 731-3325


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