NEW YORK (Standard&Poor's CreditWire) May 8, 2000--Standard&Poor's assigned its Brazilian "brAA" national scale corporate credit rating to Telepar Telecomunicações do Paraná S.A. and its holding company, Tele Centro Sul S.A.(TCS). In addition, Standard&Poor's assigned a "brA-1" short term rating to Telepar's R$900 million 360-day commercial paper, which is guaranteed by TCS The outlook is positive. Proceeds from the issue will be used to acquire a 32% stake in Companhia Riograndense de Telecomunicações (CRT). The ratings on Telepar and TCS reflect their strong business position as sole current providers of local fixed-line telecommunications services in the central region of Brazil, resulting strong cash flow generation and conservative financial profile. The ratings also reflect the evolving
