Fitch upgrades Latam Airlines

Fitch Ratings said it upgraded Latam Airlines Group SA's long-term foreign currency issuer default rating to BB- from B+, and the unsecured notes of Latam Finance Ltd. to BB-/RR4 from B+/RR4.

Fitch also affirmed Latam's national scale long-term rating at BBB+(cl).

The outlook was revised to stable from positive.

The agency said the upgrade reflects improvements in Latam's credit risk profile during the past two years and Fitch's expectation of additional deleveraging through 2020.

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