Thursday 3 June 2021

Moody's revises #Dubai Aerospace Enterprise outlook to stable from negative | ZAWYA MENA Edition

Moody's revises Dubai Aerospace Enterprise outlook to stable from negative | ZAWYA MENA Edition

Dubai Aerospace Enterprise (DAE) has had its outlook revised from negative to stable by Moody’s amid growing air travel demand.

The outlook was revised on the basis that an increased air travel will improve its profitability and cash flow metrics over the next 12-18 months, Moody’s said.

“The stable outlook also reflects Moody’s expectation that DAE will maintain strong access to alternate liquidity and low leverage,” the agency said.

“DAE’s diverse funding sources and strong liquidity coverage are underscored by its unique access to capital in the United Arab Emirates (Government of United Arab Emirates, Aa2 stable), as well as by its long-term, stable ownership by the Investment Corporation of Dubai.”

Moody’s revised its outlook for the aircraft leasing sector to stable from negative on 20 May 2021, reflecting its expectations that rising air travel volumes will strengthen airline credit quality and improve demand for leased aircraft, strengthening prospects for stronger profitability by 2023.

No comments:

Post a Comment