Fitch sees Avianca on verge of default

Fitch sees Avianca on verge of default

Debt Capital Markets Fixed Income Colombia Andean US Latin America Coronavirus

Fitch Ratings has downgraded Avianca to C from CCC- after the Colombian airline deferred payments on loans and long-term leases to cushion the blow from travel restrictions during the coronavirus pandemic. After the Colombian government grounded flights until at least April 12, Avianca said it had delayed loan payments and opened talks suppliers, lenders and other creditors to negotiate an installment plan under the current scenario. "The announcement of loan payment deferrals indicates a defaul

Already have an account?

Free trial

Take a free two-week trial now for the latest news, data and market analysis.

Free Trial