Aircraft ABS has had a difficult week, with Moody's Investors Services doling out downgrades on 23 classes in four separate transactions.

The actions affected Embarcadero Aircraft Securitization Trust, Aircraft Lease Portfolio Securitization Trust, Aerco Limited Trust and Airplanes Pass Through Trust.  In a release, the rating agency cited low lease rates for older planes and the declining value of legacy aircrafts relative to thier newer generation counterparts as the primary culprits behind the downgrades seen in these deals.

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