07.10.2015 04:48:00

Oi S.A. -- Moody's downgrades Oi SA to Ba3, outlook negative

New York, October 06, 2015 -- Moody's Investors Service has today downgraded the ratings on unsecured debt at Oi S.A. ("Oi") to B1 and three specific note issuances that benefit from a subsidiary guarantee form Telemar Norte Leste S.A. ("Telemar") to Ba3. The outlook for all ratings remain negative.

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