Moody’s has recently announced a significant downgrade of the corporate family rating for Azul (Brazil), reducing it from Caa2 to Ca. This move by the rating agency reflects increasing concerns about the airline’s financial position and overall risk profile. The downgrade also extends to Azul Secured Finance and Azul Investments, underscoring the broader impact across the group’s financial entities.
Azul (Brazil), along with its subsidiary Azul Secured Finance, has announced the early participation results for its previously disclosed notes exchange offers. The exchange offers yielded high participation rates, with 99.6% of the outstanding principal amount of the 11.930% Senior Secured First Out Notes due 2028 tendered. Additionally, 97.8%of the 11.500% Senior Secured Second Out Notes due 2029 and 94.4% of the 10.875% Senior Secured Second Out…
Azul Secured Finance, a subsidiary of Azul (Brazil), has announced the commencement of exchange offers for Eligible Holders of its outstanding 11.500% Senior Secured Second Out Notes due 2029 and 10.875% Senior Secured Second Out Notes due 2030. These notes are to be exchanged for newly issued notes of the same respective terms and maturities. The initiative aims to provide greater flexibility…
