S&P puts Latam Airlines on watch

S&P said it placed all its ratings on Latam Airlines Group SA on CreditWatch with negative implications, including the BB- issuer credit rating, the B+ unsecured debt rating, the BBB+ rating on EETC-2015 1 class A notes, the BB+ rating on class B notes and the BB rating on class C notes.

The CreditWatch placement reflects the potential effect that a prolonged travel disruption could have on the company's liquidity position and credit metrics. It also incorporates the uncertainty about when demand for passenger air travel will return.

“We expect to resolve the CreditWatch placement once we have more visibility about the impact that the coronavirus will have on Latam's credit metrics and liquidity position,” the agency said in a press release.

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