...SAO PAULO (Standard & Poor's) Oct. 26, 2015--Standard & Poor's Ratings Services said today that its ratings and outlook on Oi S.A. (global scale: ##+/Negative/--; national scale: brAA+/Negative/--) are not immediately affected following the company's announcement that it has received a proposal from the investment group, Letter One, to inject up to $4 billion in the company, subject to a business combination with TIM Participat)es S.A. As the time and final conditions of the transaction remain uncertain, we're not incorporating it yet in our ratings and outlook. If the transaction occurs, the consolidated company would probably show stronger credit metrics and competitive position than Oi's current ones. We will continue to monitor further developments on this matter. Currently, we still have a negative outlook on Oi, which reflects the potential for a downgrade if the company can't significantly improve its profitability, and consequently, credit metrics. Under Standard & Poor's policies,...
