GE Capital is prepping a $305 million securitization of aircraft engine leases, according to a presale report published by Standard & Poor’s.

The deal, Turbine Engines Securitization Ltd., consists of three tranches. S&P assigned a preliminary ‘A’ rating to the $275 million senior class 2013-1A and a ‘BBB’ rating to the $30 million class 2013-1B. There is also a class E of notes that is unrated.

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