...+ The Brazilian telecom operator Oi has implemented important steps agreed upon in its reorganization plan, including the exchange of all the debts for a new bond and for equity, with a significant haircut on its financial obligations. + Oi's current focus is on improving operating efficiency and its portfolio of clients and services, which still lag those of competitors after several years of subpar investments. + We're raising our issuer credit ratings on Oi to 'B' from '###+' on the global scale and to 'brA' from 'brBB+' on the national scale. + At the same time, we're withdrawing all debt ratings on Oi, which are currently rated 'D', because the company has exchanged its previous bonds and debentures. + The stable outlook reflects the challenges Oi will face in effectively implementing its investment program, and consequently in recovering market share and service quality to boost margins, while sustaining adequate liquidity....
