Fitch upgrades GOL Linhas

Fitch Ratings said it upgraded GOL Linhas Aereas Inteligentes SA’s long-term foreign- and local-currency issuer default ratings to B- from CCC+ and upgraded its long-term national scale rating to BB+(bra) from B-(bra).

Fitch also upgraded GOL Finance's unsecured bonds to B-/RR4 from CCC+/RR4.

The outlooks are stable.

“The upgrade reflects the reduction in GOL's short-term refinancing risks, as a result of the recent conclusion of its liability management strategy, as well as its improved liquidity position,” the agency said in a news release.

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