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Brasil Telecom S.A.'s Planned $1 Billion Senior Unsecured Notes Rated 'BBB-' Feb 12
Standard & Poors, Feb 2012
Abstract
SAO PAULO (Standard & Poor's) Feb. 6, 2012--Standard & Poor's Ratings Services assigned its 'BBB-' rating to Brasil Telecom S.A.'s (BRT) planned issuance of 10-year $1 billion senior unsecured notes. The company will use the proceeds to refinance existing debt maturities and for other corporate purposes. BRT (BBB-/Stable/--) is the incumbent of region II and an integral part of Telemar group, and therefore our rating on BRT is the same as on the group. Our ratings on Telemar reflect its dominant market position in the Brazilian telecom industry, with revenue diversification among wireline, wireless, and broadband segments, and its resulting strong cash flow generation. The industry, however, suffers from high competition, especially with the traffic trend moving from fixed-line to...
Companies mentioned in this report are: Brasil Telecom S.A.,Telemar Norte Leste S.A.
Action: New Rating
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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