Moody’s assigns Dubai Aerospace Enterprise Baa3

Moody’s Investors Service said it assigned a Baa3 long-term issuer rating to Dubai Aerospace Enterprise Ltd.

“Moody’s assignment of a Baa3 long-term issuer rating to DAE reflects DAE’s consolidated credit profile as well as Moody’s expectation that, were senior unsecured notes ever issued by the holding company, the notes would be pari passu with the Baa3 senior unsecured notes issued by subsidiary DAE Funding LLC,” Moody’s said in a press release.

The Baa3 senior unsecured rating of subsidiary DAE Funding LLC and the Baa3 issuer rating of AWAS Aviation Capital DAC are unaffected by this new rating assignment.

The outlook for rated issuers is negative.

© 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.