Moody's may still up Brasil Telecom

Moody's Investors Service said its Ba1 global scale senior unsecured issuer rating for Brasil Telecom SA remains under review for possible upgrade following the announcement of the acquisition by Telemar Norte Leste SA (Baa2 / stable outlook) of a controlling interest in Brasil Telecom Participações SA.

The agency said that the conclusion of the deal is subject to a change in the Brazilian telecommunication regulation and the approvals of the regulator Anatel and the antitrust authority CADE, which is estimated to take up to eight months.

Although the timing for the change in the regulatory framework and approval by the regulator and antitrust is uncertain, Moody's said it expects approval is likely to occur without major restrictions, and will be an additional positive consideration for Brasil Telecom's rating review.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.