Embraer regains investment grade status from Fitch Ratings

Fitch Ratings has upgraded Embraer’s rating from BB+ to BBB-. According to the agency, improving production, delivery profile and the profitability of the business, combined with gross debt reduction, are driving credit metrics to levels more commensurate with the higher rating. The rating outlook is stable. In addition, Fitch detailed that Embraer’s rating reflect its competitive positions in the commercial and business jet markets; backlog of $21.1 billion; and product portfolio diversification that includes defence programs and solid operations in its services and support segment. Embraer’s robust liquidity (mostly held outside Brazil), large export revenue, and some offshore operating cash