Moody’s turns view to positive on DAE

Moody’s Investors Service said it changed its outlook for Dubai Aerospace Enterprise Ltd. and its subsidiaries DAE Funding LLC, AWAS Aviation Capital DAC and DAE Sukuk (DIFC) Ltd. to positive from stable.

“Moody's revised DAE's outlook to positive based on its prospects for sustaining improved profitability and cash flow metrics over the next 12-18 months and expectations that it will continue to maintain strong liquidity coverage and low leverage,” the agency said in a press release.

Concurrently, Moody’s affirmed the ratings of DAE and its subsidiaries, including their Baa3 issuer and senior unsecured ratings.

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