Moody’s downgrades Doric EETCs

Moody’s Investors Service said it downgraded its ratings assigned to the two enhanced equipment trust certificate financings backed by operating leases to emirates airline: Doric Nimrod Air Finance Alpha Ltd., series 2012-1: class A to Ba1 from Baa1 and DNA Alpha Ltd., series 2013-1: class A to Ba1 from Baa1. These ratings were also placed on review for further downgrade.

The spread of the coronavirus outbreak, the deteriorating global economic outlook, relatively low oil prices and asset price declines are creating a severe and extensive credit shock across many sectors, regions and markets, the agency said.

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