August 10, 2020
S&P Global Ratings has downgraded Brazil's Gol Linhas Aéreas Inteligentes to CCC- on concerns that the airline will not tie up long-term financing in the next few weeks.
S&P also lowered Gol's ratings on the local scale to brCCC- and put a negative outlook on all of the airline's ratings, it said in a report on August 6.
Gol has a $300 million loan payment due on August 31, but it will likely use cash on hand to cover a ramp-up in operations over the next few months, which raises the ris
Ratings agency says default looms if the Brazilian airline does not renegotiate a $300 mln loan due this month