Moody’s changes DAE Funding view to negative

Moody’s Investors Service said it changed the outlook to negative from under review and confirmed the Baa3 senior unsecured rating of DAE Funding LLC, a funding subsidiary of commercial aircraft lessor Dubai Aerospace Enterprise (DAE) Ltd.

These actions conclude the review started by Moody’s on June 1, the agency said.

“DAE's negative outlook reflects Moody's expectations of a more extended and weaker recovery in air travel that results in higher risks to earnings, cash flow, liquidity and capital positions,” the agency said in a press release.

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