TAP Air Portugal obtains rating for the first time with international credit agencies

Darren Wood
By Darren Wood November 19, 2019 12:23

TAP Air Portugal obtains rating for the first time with international credit agencies

TAP Air Portugal has been rated BB- with a stable outlook by the financial rating agency Standard & Poor’s, marking the first time the airline has been rated by international credit agencies.

The rating obtained is a key element in continuing the process of extending debt maturity, enabling TAP to solidify its financial strength, the airline said.

This rating reflects the earnings recovery trend observed in the second and third quarters of 2019.The airline has said that the rating obtained confirms the successful implementation of the strategic plan defined by the shareholders and validates the growth strategy being implemented by TAP.

The airline has said that the rating obtained confirms the successful implementation of the strategic plan defined by the shareholders and validates the growth strategy being implemented by TAP.

Darren Wood
By Darren Wood November 19, 2019 12:23