Moody’s reviews Dubai Aerospace for upgrade

Moody’s Investors Service said it is reviewing the Ba1 corporate family rating of Dubai Aerospace Enterprise (DAE) Ltd. and the Ba2 senior unsecured rating of subsidiary DAE Funding LLC for upgrade. Moody’s also placed the Ba2 issuer rating of AWAS Aviation Capital DAC on review for upgrade.

“Moody’s is reviewing DAE’s ratings in recognition of the company’s improving funding structure and liquidity, lower leverage, as well as steps to obtain repayment of a large loan to its shareholder, the Investment Corporation of Dubai ("ICD"), an investing arm of the government of Dubai. Taken together, these developments have the potential to sustainably strengthen DAE’s credit profile,” said Moody’s in a press release.

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