Fitch revises Avianca to stable

Fitch Ratings said it affirmed Avianca Holdings SA's issuer default rating at B and revised the outlook to stable from negative.

The agency also affirmed the company's existing unsecured notes ratings at B-/RR5.

Fitch said the outlook revision encompasses Avianca’s capacity to maintain liquidity, leverage and margin metrics despite a very challenging environment in 2017 at levels in line with expectations previously incorporated in the ratings.

The revision is also aided by prospects of Avianca’s operational performance to continue benefiting from positive traffic trend in its main markets during 2018-2019.

The stable outlook is supported by Fitch's expectations that Avianca will lower its adjusted gross leverage toward 2019, the agency explained.

© 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.