Covers a large part of Brazil and has a large client portfolio; No debt maturity in the short term; and Lower required regulatory investments and the possibility for Oi to sell assets following the approval of the judicial reorganizational plan (JRP) amendment. A highly leveraged balance sheet; Pressure to execute investments effectively; and A difficult organizational overhaul. The stable outlook reflects our view that Oi doesn't face liquidity pressure in the next 12 months because we assume it will be able to repay or refinance the debenture due January 2022. The outlook also incorporates our expectation that the company will complete its amended JRP, including the asset sales, by the end of 2021 and will prepay debt in the next
