Brazil’s GOL cruises to stable outlook with new LM

By Oliver West
28 Aug 2014

Standard & Poor’s removed Brazilian low cost airline GOL from negative outlook after the company announced its second bond tender of the quarter on Tuesday. GOL is aiming to buy back dollar bonds maturing in 2017, 2020 and 2023.

B3/B/B- rated GOL bought back $98.909m of its outstanding 2017s and $87.719m of its 2023s at the start of August and is now pushing ahead with an attempt to purchase even more of these notes at the same time as adding the 2020s to the tender offer pile.

S&P ...

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