Falko Regional Aircraft has announced that Kroll Bond Rating Agency (KBRA) has upgraded the rating of Falko’s Regional 2021-1 ABS Series A loans from BBB+ to A-.
"The upgrade of the Series A loans is owed to the collateral performance and overall performance of the transaction. Since closing, the Series A loans have received all scheduled interest and principal payments”, Falko announced, citing the KBRA statement about the upgrade.
In 2021, Falko closed an inaugural aviation ABS transaction issuing $255m of Series A loans, which it said was the first ABS transaction completed since the Covid-19 pandemic to be "exclusively secured by regional aircraft assets".
At closing, the portfolio was comprised of 39 assets, 25 regional jet aircraft and 14 turboprop aircraft on lease to nine lessees, increasing to 11 lessees across nine countries as of March 2023.