KBRA rates Willis Lease WEST VI ABS

Willis Lease Finance Corporation’s latest WEST asset backed securitisation (ABS) transaction, the $336.7 million Willis Engine Structured Trust VI (WEST VI) comprises three series of notes: $278.6 million A notes, rated A by KBRA with an initial loan-to-value (LTV) ratio of 72%, $38.7 million BBB-rated B notes with an LTV of 82%, and $19.4 million BB-rated C notes with an LTV of 87%. The notes will be secured by a portfolio of 29 aircraft engines and one airframe valued at $387 million, which has a weighted average remaining lease term of approximately 5.0 years excluding the three off-lease assets, or