Moody’s rates Gol Finance

Moody’s Investors Service has affirmed the “B3” foreign currency rating assigned to Gol Finance’s perpetual notes and senior notes due in 2017 that are guaranteed by Gol Linhas Aereas Inteligentes S.A. The outlook for all ratings was changed to positive from stable.Moody’s stated that the B3 rating is based on its belief that Gol should be able to sustain the improvements in operating margins and cash flow generation that it achieved since the end of 2012, as a result of significantly reducing capacity in pursuit of higher yields, and streamlining its costs to help mitigate earnings pressure from a weakening