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Rating agency Fitch downgrades Latin American airlines

SAO PAULO, March 20 (Reuters) - Rating agency Fitch downgraded on Friday LATAM Airlines Group SA, Gol Linhas Aereas Inteligentes SA, Azul SA and Avianca Holdings SA by one or two notches, and placed all ratings on negative outlook.

The agency cites strong cash burn and reduced liquidity as a result of the coronavirus pandemic, and the airlines reactions of reducing capacity by up to 95% in international markets. (Reporting by Tatiana Bautzer Editing by Chris Reese)