Embraer has received an additional Investment Grade rating, this time from Moody's. The agency raised the company's credit rating from Ba1 to Baa3, with a positive outlook. This is the third agency to grant Embraer the classification this year, following S&P Global Ratings in February and Fitch Ratings in September.
In its report, Moody's highlights the continued improvement in credit metrics, financial policy and liquidity as reasons for the company's achievement of Investment Grade status. These factors are related to the gradual recovery in deliveries, an increased backlog and operational performance. Additionally, the reduction in debt, driven by the strong generation of free cash flow, strengthened the company's position.
"Our focus on efficiency and financial discipline are important differentiators, alongside our modern and competitive portfolio. These attributes ensure the success of our strategy and sustainable business growth, in addition to the strong engagement of our employees," says Embraer CFO, Antonio Carlos Garcia.
With a backlog at its highest level in nine years, totaling US$ 22.7 billion in the third quarter, Embraer is projected to end 2024 with revenue between US$ 6.0 billion and US$ 6.4 billion and an adjusted EBIT margin between 9.0% and 10.0%.
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