Fitch views Dubai Aerospace positively

Fitch Ratings said it changed the outlook on Dubai Aerospace Enterprise Ltd. to positive from stable and affirmed the long-term issuer default rating at BBB-. Fitch also affirmed DAE Funding LLC's senior unsecured debt rating and DAE Sukuk (DIFC) Ltd.'s sukuk program and debt ratings at BBB-.

“The revision of the outlook on DAE's long-term IDR reflects our view that further strengthening and diversification of DAE's franchise in line with management projections could lead to an improved assessment of its business profile score. In conjunction with maintained or improved financial metrics, this could support an upgrade over the outlook horizon,” Fitch said in a press release.

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