Subscribe Free
in Business & Finance

Moody's upgrades DAE's rating to investment grade

Posted 29 January 2020 · Add Comment

Dubai Aerospace Enterprise (DAE) has announced that Moody’s Investors Service has upgraded the corporate family rating of Dubai Aerospace Enterprise (DAE) to Baa3 from Ba1, and the senior unsecured rating of subsidiary DAE Funding LLC to Baa3 from Ba2.

This action concludes the review for upgrade initiated on November 8, 2019.

 

Firoz Tarapore, chief executive officer of DAE said: “We have worked assiduously over the last two years to position our franchise to be rated as an investment grade company. We are delighted with this rating upgrade from Moody’s. DAE's senior unsecured debt is now rated investment grade by three major US credit rating agencies. This will enable us to further solidify our Top 10 franchise, accelerate our growth ambitions and strengthen our liquidity and capital position.”

Other Stories
Advertisement
Latest News

Algeria to get 14 Su-57 fighters from Russia

Algeria has reportedly signed a contract to purchase 14 Russian Su-57 fighters, becoming the first customer of the fifth-generation stealth jets outside Russia. Jay Menon reports.

Gulf Air gears up for F1 Gulf Air Bahrain Grand Prix

Gulf Air has started its countdown to be the title sponsor of F1 Gulf Air Bahrain Grand Prix which will take place between 27-29 November.

Dnata launches dedicated inflight retail unit

Dnata has launched a dedicated inflight retail centre of excellence.

Swissport expands its services in Saudi Arabia

Swissport International has added Al-Qassim to its growing network in the Middle East. Last week, a first flight of Pakistan International Airlines has been handled successfully at Prince Naïf Bin Abdulaziz International Airport

Emirates completes refund backlog

Emirates has completed an intensive programme to clear its backlog of refund requests which was caused by pandemic-related travel disruption.

Qatar Airways Cargo appoints Wexco

Qatar Airways Cargo has appointed Wexco, a part of ECS Group, as its general sales agent (GSA) in Australia. Jay Menon reports.

Airport Security 2710091220
See us at
Aviation MENA 2021Saudi International Airshow 2021MEBAA Show 2021 BTWorld Defence Show 2022CONNECT BT0610090421