August 15, 2019
S&P Global said it has upgraded Brazil's Gol to B from B- with a stable outlook, saying the airline will likely lower net debt to around four times EBITDA this year.
Gol's liability management exercises over the past 12 months have added to the company's cash holdings and put it in a more comfortable position to face short-term volatility, S&P said in a report. The rating agency also said it expects Gol's revenues to grow between 15% and 20% in 2019.
Gol CFO Rich Lark said last month t
Rating agency says the Brazilian airline has enough liquidity to face short-term headwinds