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S&P cuts Gol Linhas on bankruptcy filing
S&P said it lowered its global ratings on Gol Linhas Aereas Inteligentes SA and its senior unsecured notes to D from CCC- and CC, respectively. The agency also withdrew the 5 recovery rating.
The downgrades follow the airline's filing for voluntary bankruptcy protection under Chapter 11 of the U.S. Bankruptcy Code.
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