GE Capital Aviation Services Ltd. has structured a $169.5 million securitization backed by aircraft engine leases dubbed Fan Engine Securitization Series 2013-1.

The transaction refinances an existing, unrated transaction that closed in 2008 of the same name. The deal has been assigned preliminary ratings by Standard & Poor’s. The class 1X notes are rated ‘AA’ and the class 1A notes are rated ‘A’.

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