Brazilian aerospace company Embraer said that it has already received sufficient orders to meet the top end of its targeted revenue range for the current financial year. It expects revenues of $4.5-$5bn for the full year 2022 and is on track to reach the number. Embraer had reported a narrowing of its net losses to $78.5mn in Q1 2022 from $95.9mn in Q1 2021. Embraer’s CFO Antonio Carlos Garcia said that the “only question mark is our ability, with our partners, to deliver those aircrafts”. Reuters notes that the company’s order backlog hit $17.3bn at the end of Q1, the highest level in almost four years. Embraer added that it is also confident that by next year it will regain its investment-grade credit rating. It is currently rated at Ba2/BB/BB+ (Moody’s/S&P/Fitch).
Embraer’s dollar bonds were slightly higher – its 6.95% 2028s were up 0.5 points to 102.82, yielding 6.34%.
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