Bogota, June 12, 2019
The Company informs
that Fitch Ratings has downgraded Avianca Holdings S.A. from B to
while reducing its rating outlook from Stable to Negative. The full report issued by Fitch Ratings is available on
the Companys website (
) under Investor RelationsAvianca Holdings S.A. IssuancesBond Documents.
As Avianca Holdings reported on May 6, 2019, the board of directors authorized the management of the Company on May 2, 2019, to proceed with a
liability management transaction in relation to its outstanding 8.375% notes due 2020.
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 and Isleña de Inversiones S.A. de C.V.ISLEÑA, incorporated in Honduras.
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