Moody's reviews Gol for downgrade

Moody's Investors Service said it placed Gol Linhas Aereas Inteligentes SA's corporate family rating of B1 under review for downgrade. The B2 ratings of Gol Finance's perpetual notes guaranteed by Gol and Gol Linhas Aereas and the $350 million of senior exchangeable notes due 2024 issued by Gol Equity Finance and guaranteed by Gol and Gol Linhas Aereas were also placed under review for downgrade.

At the same time, Moody's also placed the Baa3 the foreign-currency rating assigned to Gol LuxCo SA's term loan guaranteed by Delta Air Lines, Inc. under review for downgrade.

The agency cited the coronavirus pandemic, the restrictions on travel put into place by governments and the decline in oil prices for the shocks hitting across sectors and markets. Like other airlines being reviewed, Gol remains vulnerable to the outbreak continuing to spread.

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