Fitch Ratings agency today initiated coverage of Embraer, assigning its BBB- Foreign and Local Currency long-term issuer default ratings (IDR), which corresponds to investment grade.
The same ‘BBB-’ grade was attributed to unsecured ratings to debts issued. Fitch has also assigned a ‘AAA(bra)’ National Scale rating to Embraer. According to the agency, the rating outlook is stable. Fitch considers that Embraer’s ratings could be at least one notch higher than Brazil’s country ceiling.
In its report, Fitchs outlines Embraer’s competitive positions in the commercial and business jet markets; large backlog ($22.5 billion) covering several years of sales; consistent profitability; several promising defense programs; and the current favorable environment in the global commercial aviation industry. Embraer’s solid liquidity profile, mostly held outside Brazil, and its large export revenues combined with some offshore operating cash flow further support the ‘BBB-’ ratings.
TravelX announced that Kaszek, Latin America's leading venture capital firm, made a substantial investment in its platform, bringing the company's total funding to $45 million. The invest...
Textron Aviation delivered the 500th delivery of a Cessna Citation CJ4 series business jet, underscoring more than a decade of customer confidence in the company’s largest light jet an...
FL Technics subsidiary FL Technics LLC, which provides Line Maintenance services across the Middle East, has expanded its approved capabilities by adding Airbus A350, Boeing 777, Boeing 787, and Boein...
ATP Flight School has reintroduced its 100+ Hour Multi-Engine Airline Career Pilot Program at select training centers, bringing students multi-engine flight time at single-engine prices.&nbs...
