S&P puts Gol Linhas on watch

S&P said it placed its B global scale and brA national scale issuer credit and debt ratings on Gol Linhas Aereas Inteligentes SA on CreditWatch with negative implications.

The CreditWatch negative reflects the risks the effect of Covid-19 could last longer than two to three months, potentially cutting profitability and consuming Gol's current liquidity position.

“We expect to resolve the CreditWatch placement once we have further visibility about the impact of the current market conditions on Gol. We anticipate a downgrade of Gol could be limited to one notch in the next few months, but this depends on the severity of the impact to its liquidity position,” said S&P in a press release.

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