November 14, 2017 |
Fitch Ratings has upgraded Brazilian airline Gol to B from CCC, after the company's restructuring this year.
The rating agency said the restructuring reduced the company's capacity and cost structure, lowered leverage and improved operational performance. Fitch also said the rating incorporated the Brazilian airline industry's improving fundamentals.
In a report seen on Monday, Fitch said Gol reached an operational margin of 9.8% up to September this year, compared to 7.1% and -1.9% in 2016 and
Brazilian airline gets bumped to B from CCC after a recent restructuring