KBRA upgrades DAE’s senior unsecured bond rating to BBB+

Darren Wood
By Darren Wood October 17, 2019 19:13

KBRA upgrades DAE’s senior unsecured bond rating to BBB+

Kroll Bond Rating Agency (KBRA) has reaffirmed the BBB+ issuer rating of Dubai Aerospace Enterprise and upgrades DAE’s senior unsecured debt rating from BBB to BBB+.

Accordingly, KBRA has upgraded the ratings of the senior unsecured notes issued by DAE Funding LLC from BBB to BBB+. The Outlook on the ratings is Stable.

KBRA has said the alignment of the senior unsecured rating to issuer rating reflects a significant increase in unencumbered assets coverage of unsecured debt which enhances unsecured debt recovery prospects.

Darren Wood
By Darren Wood October 17, 2019 19:13