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.
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