DUBLIN (May 29, 2019) – Kroll Bond Rating Agency Europe Limited (KBRA) assigns final ratings to two classes of notes (the “Notes”) issued by JOL Air Limited (“JOL Air”).

The transaction represents JP Lease Products and Services Co., Ltd.’s inaugural securitization with Stratos Aircraft Management Limited acting as the servicer (“Stratos”). KBRA notes that Stratos will initially be purchasing a minority proportion of the Class C Notes issued by JOL Air.

Stratos, founded in 2013, focuses its core business on remarketing and servicing aircraft. The company is an independent firm comprised of a team of aviation industry veterans primarily focused on large commercial aircraft with dual headquarters in Shannon, Ireland and Monaco.

Proceeds from the sale of the Notes will be used to acquire 15 aircraft (the “Portfolio”) on lease to 11 lessees located in 10 countries. As of March 31, 2019, the initial weighted average aircraft age of the Portfolio is approximately 4.0 years with a weighted average remaining lease term of approximately 8.3 years.