S&P Global Ratings last week raised its issuer credit rating to ‘B-‘ from ‘SD’ and its issue-level rating on the 9% senior secured notes due 2023 to ‘B-‘ from ‘CCC-‘ and the 8.375% senior unsecured notes due 2020 to ‘CCC+’ from ‘CC’ on Avianca (NYSE: AVH) (BVC:PFAVH).
This after Standard & Poor’s reassessment of Avianca’s credit quality after the Colombian airline announced the completion of its debt-restructuring plan, reports Finance Colombia.
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