US EditionAzul Airlines Goes Bankrupt and Moody's Lowers Its Rating
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Azul Airlines hosts Chapter 11 of U.S. bankruptcies. Image: Azul. Moody’s Ratings downgraded the rating of Azul S.A. to Ca (highly speculative) from Caa2, after it was confirmed that the company took over Chapter 11 of bankruptcy in the United States. All of the company’s ratings—including $1.6 billion in guaranteed senior financing—were similarly reduced, with a negative perspective. The decision reflects “limited expectations of recovery for c…
Chapter 11 is a mechanism under the US Bankruptcy Law that allows companies in difficulty to restructure. It guarantees protection from creditors and maintains operations during negotiations with lenders. By Rafael Coelho The post What is Chapter 11 used by Azul in judicial recovery? appeared first on Monitor Mercantil.
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