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Brazilian Superior Court Issues Provisional Ruling on Telecoms' Price Readjustment Jul 03
Standard & Poors, July 2003
Abstract
SAO PAULO (Standard & Poor's) July 14, 2003--Standard & Poor's Ratings Services said today that the provisional decision on price readjustments by Brazil's Superior Court of Justice does not have an immediate impact on the ratings of Tele Norte Leste Participa--es S.A. (TNL, local currency: BB/Stable/--; foreign currency: B+/Stable/--; national scale: brAA/Stable/--), or Brasil Telecom Participa--es S.A. (national scale: brAA/Stable/--) and its parent, Brasil Telecom S.A. (BRT, national scale: brAA/Stable/--). The provisional ruling approves the usage of the IPCA index (Ample Consumers' Price Index) instead of the IGP-DI (General Inflation Index) to readjust prices set by the fixed-line telephone incumbents. This decision allows Brazilian fixed-line incumbents to readjust its prices at an average rate of 17.24% (maximum of 23.95% for...
Companies mentioned in this report are: Tele Norte Leste Participacoes S.A.,Brasil Telecom S.A.,Brasil Telecom Participacoes S.A
Action: S&P Event
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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