Moody’s changes Dubai Aerospace view

Moody's Investors Service said it affirmed the Ba2 corporate family rating of Dubai Aerospace Enterprise (DAE) Ltd. and the Ba3 senior unsecured rating of DAE Funding LLC and revised the outlook to positive from stable.

The agency said it affirmed the ratings based on the company's franchise strength as a top ten global aircraft leasing company, its unique access to capital and customers in the United Arab Emirates that differentiates its business proposition, and its effective management of aircraft fleet and airline credit risks.

Moody's said it revised the outlook in recognition of the firm's progress strengthening its credit profile after successfully integrating operations with AWAS Aviation Capital DAC, which the company acquired in 2017.

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