Fitch assigns AAA(bra) to TIM Participacoes

Fitch Ratings said it assigned a first-time national long-term rating of AAA(bra) to TIM Participacoes SA. The outlook is stable.

“The rating reflects TIM's strong business profile, supported by its relevant market share in the mobile segment, as well as the company's conservative financial metrics, with reduced financial leverage and a robust liquidity position. The analysis also incorporates the expectation that TIM will present growing cash flows from operations (CFFO) and that the company is prepared to deal with the competitive and regulated telecommunications sector in Brazil, with the characteristic of being capital intensive and exposed to rapid technological changes,” said Fitch in a press release.

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