Dubai Aerospace Enterprise said it secured a $300 million (Dh1.1 billion) five-year loan from Emirates Islamic and Emirates NBD's investment banking arm to back its future financing requirements. The five-year dual tranche unsecured term facility will include both conventional and Islamic components and can be upsized to $600m, the Dubai-based lessor said in a statement on Monday. "The facility will support the future financing needs of DAE’s business," the company said without providing details. Credit ratings agency Moody's last week upgraded DAE's corporate family rating to investment grade 'Baa3', up from Ba1, reflecting the company's improved funding structure and liquidity. The agency changed its outlook of the Dubai plane lessor to stable from "rating under review". Moody's also upgraded the senior unsecured rating of subsidiary DAE Funding to 'Baa3' from 'Ba2.' The ratings reflect "the company's asset and risk management strengths, the earnings and funding advantages associated with the company's unique access to capital and customers in the United Arab Emirates, and its balanced aircraft fleet composition", Moody's said. Moody's could upgrade its ratings if DAE generates profitability that compares well with investment-grade peers, it said. “We are very pleased to enter into this agreement with Emirates Islamic and Emirates NBD Capital, and to deepen our relationship with Emirates NBD, as we continue to diversify our pool of liquidity," Firoz Tarapore, chief executive of DAE said.