Moody's turns Dubai Aerospace view to stable

Moody's Investors Service said it changed the outlook to stable from negative and affirmed the Baa3 issuer rating of Dubai Aerospace Enterprise (DAE) Ltd. and the Baa3 long-term senior unsecured rating of its subsidiary DAE Funding LLC.

The agency said it revised DAE's outlook to stable based on the expectation that demand for leased aircraft will rise as air carriers rebuild capacity to serve strengthening air travel demand, helping to improve DAE's profitability and cash flow metrics over the next 12-18 months.

“The stable outlook also reflects Moody's expectation that DAE will maintain strong access to alternate liquidity and low leverage,” the agency said in a press release.

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