Oi S.A. Issuer Credit Rating Raised To 'CCC-' From 'D' And Placed On CreditWatch Positive - S&P Global Ratings’ Credit Research

Oi S.A. Issuer Credit Rating Raised To 'CCC-' From 'D' And Placed On CreditWatch Positive

Oi S.A. Issuer Credit Rating Raised To 'CCC-' From 'D' And Placed On CreditWatch Positive - S&P Global Ratings’ Credit Research
Oi S.A. Issuer Credit Rating Raised To 'CCC-' From 'D' And Placed On CreditWatch Positive
Published May 29, 2024
3 pages (1448 words) — Published May 29, 2024
Price US$ 150.00  |  Buy this Report Now

About This Report

  
Abstract:

On May 28, 2024, Brazilian telecom operator Oi S.A. received court approval of its judicial reorganization plan, which creditors approved in April 2024. Consequently, we raised our issuer credit ratings on Oi to 'CCC-' from 'D' on the global scale and to 'brCCC+' from 'D' on the Brazil national scale, and placed the ratings on CreditWatch with positive implications. All issue-level ratings remain 'D' because the conclusion of the defaulted-debt exchanges should be completed by July 2024. The CreditWatch positive indicates the potential of a further upgrade, once we reassess the company's capital structure and liquidity. We expect to resolve the CreditWatch after the debt exchange is concluded and final capital structure is known, as creditors can chose more than

  
Brief Excerpt:

...May 29, 2024 - On May 28, 2024, Brazilian telecom operator Oi S.A. received court approval of its judicial reorganization plan, which creditors approved in April 2024. - Consequently, we raised our issuer credit ratings on Oi to '###-' from 'D' on the global scale and to 'brCCC+' from 'D' on the Brazil national scale, and placed the ratings on CreditWatch with positive implications. - All issue-level ratings remain 'D' because the conclusion of the defaulted-debt exchanges should be completed by July 2024. - The CreditWatch positive indicates the potential of a further upgrade, once we reassess the company's capital structure and liquidity. We expect to resolve the CreditWatch after the debt exchange is concluded and final capital structure is known, as creditors can chose more than one option under the proposal. SAO PAULO (S&P Global Ratings) May 29, 2024--S&P Global Ratings took the rating action described above. The upgrade follows the Brazilian judge's approval of Oi's judicial reorganization...

  
Report Type:

Ratings Action

Ticker
TEPR4@BZ
Issuer
Oi S.A.
GICS
Integrated Telecommunication Services (50101020)
Sector
Global Issuers, Structured Finance
Country
Brazil
Region
Latin America
Format:
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S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Oi S.A. Issuer Credit Rating Raised To 'CCC-' From 'D' And Placed On CreditWatch Positive" May 29, 2024. Alacra Store. May 13, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Oi-S-A-Issuer-Credit-Rating-Raised-To-CCC-From-D-And-Placed-On-CreditWatch-Positive-3187474>
  
APA:
S&P Global Ratings’ Credit Research. (). Oi S.A. Issuer Credit Rating Raised To 'CCC-' From 'D' And Placed On CreditWatch Positive May 29, 2024. New York, NY: Alacra Store. Retrieved May 13, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Oi-S-A-Issuer-Credit-Rating-Raised-To-CCC-From-D-And-Placed-On-CreditWatch-Positive-3187474>
  
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