KBRA downgrades three Start III ABSs  

KBRA Europe is downgrading three Aviation ABS securities from START III and removing them from Watch Placement Status, where they were initially placed on 30 April 2020. START III is an Aviation ABS transaction serviced by GE Capital Aviation Services and KBRA said that today’s actions reflect a significant change in the collateral pool due to the termination of 18 aircraft sales to the trust that were expected to be completed within the delivery period. “Although this resulted in a substantial repayment of the rated securities owing to an undelivered asset adjustment payment reflected in the July remittance report, the