KBRA has assigned preliminary ratings to the Class A Notes, Class B Notes and Class C Notes issued by Castlelake Aircraft Structured Trust 2017-1R, a refinancing of an aviation ABS transaction. This transaction is serviced by Castlelake L.P. and Castlelake Aviation Holdings (Ireland) Limited. Proceeds from the notes will be used to acquire 33 aircraft on lease, or expected to be on lease, to 13 lessees located in 11 jurisdictions, with a weighted average age of 16.4 years, and a weighted average lease term of approximately 3.8 years. The portfolio has an initial value of approximately $519.4 million, based on

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