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Published on 1/26/2024 in the Prospect News Distressed Debt Daily and Prospect News Emerging Markets Daily.

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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