AVIANCA HOLDINGS S.A.
July 24, 2019.
The Company informs that S&P Global Ratings has downgraded Avianca Holdings S.A. from CCC+ to
SD while maintaining the issue-level rating at CCC on credit watch negative. The full report issued by S&P Global Ratings is available on the Companys website (
) under Investor
RelationsAvianca Holdings S.A. IssuancesBond Documents.
For further information please contact:
Avianca Investor Relations
ext. 2474, 1349
ABOUT AVIANCA HOLDINGS S.A.
The terms Avianca
Holdings or the Company refer to the consolidated entity. The original source-language text of this announcement is the official, authoritative version, Translations are provided as an accommodation only, and should be
cross-referenced with the source-language text, which is the only version of the text intended to have legal effect.
Avianca Holdings S.A. (NYSE: AVH)
(BVC:PFAVH) comprises the airlines: Aerovías del Continente Americano S.A.Avianca, Tampa Cargo S.A., incorporated in Colombia, Aerolineas Galapagos S.A.Aerogal, incorporated in Ecuador, and the TACA Group companies: TACA
International Airlines S.A., incorporated in El Salvador, Lineas Aereas Costarricenses S.A.LACSA, incorporated in Costa Rica, Transamérican Airlines S.A.TACA Perú, incorporated in Perú, Servicios Aéreos
Nacionales S.A.SANSA, incorporated in Costa Rica, Aerotaxis La Costeña S.A., incorporated in Nicaragua, and Isleña de Inversiones S.A. de C.V.ISLEÑA, incorporated in Honduras.