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03.10.2013 03:09:00
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Oi S.A. -- Moody's affirms Oi's Baa3/Aa1.br rating with a negative outlook following announced merger with Portugal Telecom
Sao Paulo, October 02, 2013 -- Moody's Investors Service has today affirmed the Baa3/Aa1.br senior unsecured ratings of Oi S.A. ("Oi") and maintained its negative outlook, following the announcement that Oi has reached an agreement with Portugal Telecom, SGPS, S.A. ("PT", Ba2/neg) to merge the two entities. Concurrently, Moody's has affirmed Telemar Participaçoes' Ba1 rating and negative outlook, but expects to withdraw its ratings once the transaction is completed.
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