Fitch rates Dubai Aerospace notes BBB-

Fitch Ratings said it assigned DAE Funding LLC’s inaugural fixed-rate four- and/or seven-year senior unsecured benchmark bond issue an expected rating of BBB- through a $2.5 billion medium-term note program.

DAE is a unit of Dubai Aerospace Enterprise Ltd. The parent’s ratings are unaffected by today's rating action. The ratings are unchanged mostly because Fitch said it expects the proceeds of the planned issue to be used to reduce indebtedness and hence to be broadly neutral to leverage.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.