S&P Negative on Gol

S&P Negative on Gol

Brazil Corporate & Sovereign Strategy

S&P has placed Gol’s B credit rating on negative watch, is says, based on the Brazilian airline’s poor performance. “Gol’s financial risk profile may not recover as previously expected because of its weaker performance and resulting negative cash flow generation, which we now expect to continue at least throughout the first half of 2013,” the agency says. The carrier has not cut capacity enough to offset higher fuel prices, and continues to lose market share. Liquidity and cash reserves should b

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