DBRS Finalizes Pooled Aircraft Lease Securitization Methodology & Related Exhibits/Appendix

DBRS, Inc. (DBRS) has today finalized the methodologies it will use to rate and monitor asset-backed securitization (ABS) transactions backed by aircraft and associated leases. The following methodologies have been finalized following the conclusion of the Request for Comment period on April 28, 2016:

-- A new methodology, “Rating Pooled Aircraft Lease Securitizations” (the Methodology). The Methodology provides an analytical framework for reviewing aircraft lease securitizations in the United States.
-- The Pooled Aircraft Lease Securitization Exhibits to the existing “U.S. Operational Risk Assessment for ABS Servicers” and “U.S. Operational Risk Assessment for ABS Originators.”
-- The Pooled Aircraft Lease Securitization Appendix to the existing “DBRS Master U.S. ABS Surveillance Methodology.”

No comments were received during the comment period and, therefore, the final versions contain no changes to the initial versions of the methodologies.

The Methodology provides a discussion of the following:

-- Executive summary,
-- Industry overview,
-- Key collateral performance drivers,
-- Operational risk review,
-- Aircraft lease ABS financial structure,
-- Legal structure,
-- Collateral analysis,
-- Cash flow analysis and
-- Surveillance.

Notes:
DBRS criteria and methodologies are publicly available on its website www.dbrs.com under Methodologies.

For more information on this credit or on this industry, visit www.dbrs.com or contact us at info@dbrs.com.