by Arundhati Behera | Mar 7, 2023 | High Yield Bonds
Dollar bonds of Brazilian air carriers Gol and Azul jumped higher after both companies struck financing deals that would help ease its liability and cash concerns. Azul’s dollar bonds jumped by a massive 15 points after it struck an agreement with most of its...
by Amruth Sundarkumar | Feb 14, 2023 | Credit Ratings, Distressed / Defaulted Bonds, High Yield Bonds
Brazilian low-cost carrier Gol’s was downgraded to Caa2 from B3 by Moody’s due to its “liquidity risk and sizeable upcoming refinancing needs”. Gol’s debt exchange, announced on February 7, is viewed by Moody’s as a distressed exchange...
by Amruth Sundarkumar | Feb 10, 2023 | Credit Ratings, High Yield Bonds
Brazilian low-cost carrier Gol’s dollar bonds were down as much as 6% after the company was downgraded to CC from CCC+ by S&P. This rating action came on the back of Gol’s debt refinancing plan that included a debt exchange of part of its offshore...
by Amruth Sundarkumar | May 12, 2022 | Distressed / Defaulted Bonds, High Yield Bonds
Brazil’s Gol and Colombia’s Avianca said that they struck a deal to combine into a single holding company called Abra Group, as part of consolidation efforts. Abra Group will be jointly controlled by Avianca and Gol’s main shareholders. However, both...
by Amruth Sundarkumar | Sep 23, 2021 | Credit Ratings
Brazil’s GOL Linhas Aereas Inteligentes S.A.’s (GOL) Issuer Default Ratings (IDRs) have been upgraded to B- from CCC+ with a stable outlook by Fitch. GOL Finance’s unsecured bonds have also been upgraded to B-/RR4 from CCC+/RR4. The rating action on...
