Loading
28-May-2010 11:00 AM

Fitch downgrades TAM's IDR to 'B+'; outlook revised to stable

Fitch Ratings downgraded (27-May-2010) TAM's credit ratings as follows: [more]

  • Foreign and local currency long-term Issuer Default Ratings (IDRs) to 'B+' from 'BB-';
  • USD300 million senior unsecured note due to 2020 to 'B+/RR4' from 'BB-';
  • USD300 million senior unsecured note due to 2017 to 'B+/RR4' from 'BB-';
  • Long-term national rating to 'BBB+(bra)' from 'A-(bra)';
  • BRL500 million debentures issuance due 2012 to 'BBB+(bra)' from 'A-(bra)'.

The Rating Outlook for the long-term corporate ratings is revised to "stable" from "negative".

Want More News Like This?

CAPA Membership gives you access to all news and analysis on the site, along with access to many areas of our comprehensive databases and toolsets.
Find Out More