Standard & Poor’s Global Ratings recently recognized two of Global Jet Capital’s (GJC) asset-backed security (ABS) transactions, placing them on CreditWatch with positive implications. The recognition for all tranches of notes in GJC’s BJETS 2020-1 and BJETS 2021-1 issuances underscores the stability of its portfolios, GJC said.

“We believe these ratings reflect the strong performance of Global Jet Capital’s highly diversified portfolio and the importance of business aviation for our client base,” said CEO Vivek Kaushal. GJC has issued some $3.6 billion of ABS notes, completing six transactions since 2018. These are collateralized by business aircraft loans through GJC's BJETS securitization program.

The positive ratings come as the business jet financier recently provided bullish results on several metrics in the business jet market in 2022. However, GJC did note that the industry’s resiliency could be tested this year if the global economy heads toward a recession.

Also, GJC highlighted some of its recent transactions in its fourth-quarter market briefing, including senior debt loans provided for a preowned Bombardier Global 6000 and Challenger 350, as well as an operating lease for a preowned Gulfstream G550.