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.
ProLogium announced the signing of a MoU with Elysian Aircraft BV, a Dutch aerospace company developing large-scale battery electric aircraft and core electrification technologies for aviation. U...
Azerbaijan Airlines expanded its fleet with another state-of-the-art Airbus A320neo aircraft. The introduction of the new aircraft is aimed at providing passengers with more comfortable and moder...
Etihad Airways celebrated the inaugural flight of its iconic Airbus A380 to Japan, which touched down at Tokyo’s Narita International Airport on 18 June. The arrival marks a landmark moment for...
flydubai announced that applications are now open for its newly launched Flight Dispatcher Programme for Emirati talent. Following the MoU signed earlier this year with Emirates Aviation University, t...
