Oi S.A. Lowered To 'CCC-' From 'CCC' On Likely Debt Restructuring Over The Next Six Months; Outlook Remains Negative - S&P Global Ratings’ Credit Research

Oi S.A. Lowered To 'CCC-' From 'CCC' On Likely Debt Restructuring Over The Next Six Months; Outlook Remains Negative

Oi S.A. Lowered To 'CCC-' From 'CCC' On Likely Debt Restructuring Over The Next Six Months; Outlook Remains Negative - S&P Global Ratings’ Credit Research
Oi S.A. Lowered To 'CCC-' From 'CCC' On Likely Debt Restructuring Over The Next Six Months; Outlook Remains Negative
Published Apr 26, 2016
4 pages (1717 words) — Published Apr 26, 2016
Price US$ 150.00  |  Buy this Report Now

About This Report

  
Abstract:

Brazil-based telecommunications company Oi S.A. announced yesterday that it had arrived at an agreement in which Moelis&Company will act as advisor for a group of bondholders to expedite discussions over a potential debt restructuring. We believe that a debt restructuring is likely to occur over the next six months. We are lowering our global scale corporate credit and issue-level ratings on Oi to 'CCC-' from 'CCC' and our national scale ratings to 'brCCC-' from 'brCCC'. The negative outlook reflects our view of a high likelihood that the company will restructure its debt or make a distressed debt exchange over the next six months. SAO PAULO (Standard&Poor's) April 26, 2016--Standard&Poor's Ratings Services lowered its corporate

  
Brief Excerpt:

...+ Brazil-based telecommunications company Oi S.A. announced yesterday that it had arrived at an agreement in which Moelis & Company will act as advisor for a group of bondholders to expedite discussions over a potential debt restructuring. + We believe that a debt restructuring is likely to occur over the next six months. + We are lowering our global scale corporate credit and issue-level ratings on Oi to '###-' from '###' and our national scale ratings to 'brCCC-' from 'brCCC'. + The negative outlook reflects our view of a high likelihood that the company will restructure its debt or make a distressed debt exchange over the next six months. SAO PAULO (Standard & Poor's) April 26, 2016--Standard & Poor's Ratings Services lowered its corporate credit and issue-level global scale ratings on Oi S.A. (Oi) to '###-' from '###' and its national scale ratings to 'brCCC-' from 'brCCC'. The recovery ratings on the company's rated debt remain unchanged at '4', indicating our expectation for average...

  
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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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Oi S.A. Lowered To 'CCC-' From 'CCC' On Likely Debt Restructuring Over The Next Six Months; Outlook Remains Negative" Apr 26, 2016. Alacra Store. May 08, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Oi-S-A-Lowered-To-CCC-From-CCC-On-Likely-Debt-Restructuring-Over-The-Next-Six-Months-Outlook-Remains-Negative-1623602>
  
APA:
S&P Global Ratings’ Credit Research. (). Oi S.A. Lowered To 'CCC-' From 'CCC' On Likely Debt Restructuring Over The Next Six Months; Outlook Remains Negative Apr 26, 2016. New York, NY: Alacra Store. Retrieved May 08, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Oi-S-A-Lowered-To-CCC-From-CCC-On-Likely-Debt-Restructuring-Over-The-Next-Six-Months-Outlook-Remains-Negative-1623602>
  
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