S&P Upgrades Gol Linhas Aereas Intelig. to CCC+ From SD

Gol Linhas Aereas credit profile was reassessed following its debt restructuring, S&P said in a statement.

• Gol has alleviated near-term liquidity pressures and improved its maturity profile, providing some financial flexibility during business recovery, S&P says
  • Co. still has high leverage and faces hurdles to turn its cash flow positive
• Outlook is seen as positive due to expectations that the company’s prudent capacity growth and strong yield environment will bolster EBITDA margins and reduce leverage by the end of 2023

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