KBRA Releases Research – SAS Bankruptcy Filing: Aviation ABS Exposure

KBRA releases a brief report on aviation asset-backed security (ABS) exposure in its rated universe to SAS, which on July 5 filed for Chapter 11 bankruptcy protection in the U.S.

The report notes that SAS is a lessee in five KBRA-rated ABS transactions, including two transactions primarily collateralized by aircraft leases, as well as three secured by aircraft engine leases. There is risk of potential cash flow interruptions in these transactions that could result from negotiations amid bankruptcy proceedings.

Click here to view the report.

About KBRA

KBRA is a full-service credit rating agency registered in the U.S., the EU and the UK, and is designated to provide structured finance ratings in Canada. KBRA’s ratings can be used by investors for regulatory capital purposes in multiple jurisdictions.

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