S&P upgrades Gol Linhas

S&P said it upgraded Gol Linhas Aereas Inteligentes SA to B from B-, and national scale rating to brA from brBBB.

The issue level is the same as the rating on the unsecured notes as the issuer level with a recovery rating 4 with an average recovery of 35%.

“Gol's liability management in the past 12 months has also improved its liquidity position and balance sheet. This, along with more conservative fuel hedging policy, should help the company to better withstand short-term volatility,” S&P said in a press release.

The outlook is stable. S&P said it expects the company to maintain a disciplined supply management strategy.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.