S&P ups Gol Linhas, rates notes B-

S&P said it raised the global scale corporate credit and issue-level ratings on Gol Linhas Aereas Inteligentes SA to B- from CCC+ and raised the Brazilian national scale corporate rating on the company to brBB from brB.

The agency also assigned a B- issue-level rating to Gol's debt issuance of $500 million due 2025.

S&P removed all the ratings from CreditWatch positive, where they were placed on Nov. 27.

The outlook is positive.

“The upgrade reflects Gol's improved liquidity, which resulted from the successful issuance of senior unsecured notes that will allow the company to improve its capital structure and reduce interest burden,” the agency said in a news release.

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