Fitch has upgraded Embraer’s Issuer Default Rating (IDR) to BBB with a stable outlook. The agency cited the company’s robust liquidity position, positive free cash flow generation history, and financial flexibility as primary drivers for the upgrade.
As of June 30, 2026, Embraer reported a debt of US$ 2.5 billion, with cross-border unsecured notes accounting for 65% of the total. The company’s available cash, excluding its subsidiary Eve, totaled US$ 2.0 billion, which Fitch notes is sufficient to cover debt amortizations until at least 2035. Additionally, liquidity is supported by a US$ 1.0 billion revolving credit facility maturing in 2029.
Fitch expects the company to maintain disciplined liquidity management and proactive liability administration to mitigate refinancing risks. Approximately 90% of Embraer’s cash, equivalents, and financial investments were denominated in US dollars as of the end of June 2026.