Moody’s upgrades GOL Corporate Credit Rating to B2

GOL Linhas Aereas Inteligentes S.A. announced that Moody’s – one of three major corporate credit rating agencies – upgraded the GOL corporate family credit rating by four notches from Caa3 to B2 and the credit rating of Gol Finance’s perpetual notes to B3 (from C), with a stable outlook.

Moody’s also affirmed the foreign currency rating assigned to Gol LuxCo S.A.’s term loan at Baa3. “With this change, all three major rating agencies have now acknowledged GOL’s improved credit risk, a result of the successful right sizing plan the Company executed through the economic downturn in Brazil”, said Richard Lark, Chief Financial Officer.

GOL is Brazil’s largest airline, carrying 33 million passengers annually on more than 700 daily flights to 64 destinations, 53 in Brazil and 11 in South America and the Caribbean, on a fleet of 120 Boeing 737 aircraft, with a further 120 Boeing 737 MAX on order.