Moody’s ups Gol Linhas to B2

Moody's Investors Service said it upgraded Gol Linhas Aereas Inteligentes SA's corporate family rating to B2 from Caa3 and Gol Finance's perpetual notes to B3 from C. The rating outlook was changed to stable.

The agency also affirmed the foreign currency rating assigned to Gol LuxCo SA's term loan guaranteed by Delta Air Lines, Inc. at Baa3; outlook stable.

Moody’s said the upgrade is a result of Gol's improvements in operating performance and financial flexibility that have culminated in the successful issuance of $500 million 7% senior unsecured notes due 2025 (unrated).

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