Fitch Upgrades GOL's Credit Ratings: National to A- and Foreign Currency to B+
São Paulo, July 10, 2019 - GOL Linhas Aéreas Inteligentes S.A. (NYSE: GOL and B3: GOLL4), Brazil's premier domestic airline, announces that Fitch Ratings - one of three major corporate credit rating agencies - upgraded GOL's credit rating, as well as that of the notes issued by us and by our fully-owned subsidiaries. The foreign and local currency Issuer Default Ratings ("IDR") have been upgraded to B+, with a stable outlook (from B). GOL's unsecured 2022 and 2025 notes, and GOL's perpetual bonds were upgraded at the same level as the Company's IDR. GOL's national scale rating was upgraded to A- (bra) with a stable outlook, from BBB- (bra). "The ratings upgrade reflects the GOL team's focus on the consistent improvement of margins, strengthening the balance sheet through disciplined liability management, and on being the best positioned airline to benefit from Brazil's economic growth," said Richard Lark, EVP and Chief Financial Officer. The upgrade raised GOL to the highest Fitch rating since 2013.