Moody's raises rating of Dubai Aerospace Enterprise to investment grade - Arabianbusiness:
Dubai Aerospace Enterprise (DAE) on Wednesday announced that Moody’s Investors Service has upgraded its corporate family rating to investment grade.
The ratings agency said the rating of the aircraft leasing company had been changed from Baa3 from Ba1, and the senior unsecured rating of subsidiary DAE Funding to Baa3 from Ba2. This action concludes the review for upgrade initiated in November, the agency said, adding that the outlook is stable.
Firoz Tarapore, CEO of DAE said: “We have worked assiduously over the last two years to position our franchise to be rated as an investment grade company. We are delighted with this rating upgrade from Moody’s.
"DAE's senior unsecured debt is now rated investment grade by three major US credit rating agencies. This will enable us to further solidify our Top 10 franchise, accelerate our growth ambitions and strengthen our liquidity and capital position."
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