12-May-2009 11:35 AM
TAM, GOL lead falls, FedEx downgraded, Southwest Airlines falls - Share Wrap
Analysis
TAM (-5.6%) and GOL (-5.4%), South America's leading airlines, each suffered over 5% falls yesterday. TAM is still suffering from Fitch Ratings' downgrade last week, when it noted the "deterioration in TAM's credit profile, a result of the combination of high leverage and greater use of its formerly robust but still satisfactory liquidity position to finance its business".
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