Dubai, U.A.E., 18 July 2019: Dubai Aerospace Enterprise (DAE) Ltd. announced that Fitch Ratings had assigned the following ratings to DAE:
| Dubai Aerospace Enterprise (DAE) Ltd | |
| Long-term IDR: ‘BBB-‘; Outlook Stable | |
| Senior Secured Long-Term Rating: ‘BBB’ | |
| DAE Funding LLC | |
| Long-term IDR: ‘BBB-‘; Outlook Stable | |
| Senior Unsecured Long-Term Rating: ‘BBB-’ | |
The full press release issued by Fitch Ratings can be found here.
Firoz Tarapore, Chief Executive Officer of DAE commented: “Over the last 23 months since the closing of the acquisition of AWAS, we have worked diligently to strengthen our franchise and transform our credit metrics to position the Company to be perceived and rated as an investment grade company. Today, our market leading position as a Top 10 lessor combined with consistent profitability, strong capital and robust liquidity have earned us this recognition from Fitch. We remain committed to obtaining an investment grade rating from all credit rating agencies that currently rate DAE to support our ambitious growth plans.”
*ENDS*
About DAE
Dubai Aerospace Enterprise (DAE) Ltd. is a globally recognized aerospace corporation and one of the largest aircraft leasing companies in the world. Headquartered in Dubai, DAE’s leasing and engineering divisions serve over 125 airline customers around the world from its seven locations in Dubai, Dublin, Amman, Singapore and the US.
DAE’s award-winning leasing division DAE Capital has an owned, managed and committed fleet of approximately 355 Airbus, ATR and Boeing aircraft with a fleet value of US$14 billion. More information can be found on the company’s web site at www.dubaiaerospace.com.
For further information, please contact:
| Media | Fixed Income Investors |
| Arne Bevaart | Sinan Kahya |
| +971 4 428 9591 | +971 4 428 9593 |
| press.office@dubaiaerospace.com | investorrelations@dubaiaerospace.com |