SAO PAULO (Standard&Poor's) Sept. 17, 2014--Standard&Poor's Ratings Services said today that its ratings and outlook on Oi S.A. (BB+/Stable/--) are not immediately affected by the company's announcement that it intends to sell its stake in Africatel Holdings B.V. (Africatel). Our base-case scenario does not include cash inflows from potential asset sales due to the uncertainties regarding the amount and timing of cash receipt. If it happens, this sale would help to improve Oi's credit metrics, but probably not sufficient to change our ratings on Oi, at least in the short term, because its current credit metrics are already pressured for its "significant" financial risk profile and we would need to evaluate the effects of any other
