Kroll Bond Rating Agency Europe Limited (KBRA) assigns preliminary ratings to three series of notes (the “Notes”) issued by Silver Aircraft Lease Investment Limited (“Silver Ireland”) and Silver Aircraft Leasing LLC (“Silver USA”, and, together with Silver Ireland, the “Issuers”).

The Silver transaction represents the second sponsored securitization for BOC Aviation Limited (“BOCA”) and the first rated by KBRA. BOC Aviation (Ireland) Limited (the “Servicer”) will act as servicer for the transaction and is an affiliate of BOCA, which has offices in Singapore, Dublin, London, New York and Tianjin.

Proceeds from the sale of the Notes will be used to acquire 17 aircraft (the “Portfolio”) on lease to 14 lessees located in 9 countries. As of April 30, 2019, the initial weighted average aircraft age of the Portfolio is approximately 6.0 years with a weighted average remaining lease term of approximately 5.4 years.

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