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S&P lowers OAS
Standard & Poor’s said it downgraded OAS SA’s global scale rating to CC from B+ after it missed an interest payment on its 2021 notes due Jan. 2.
The agency also said it downgraded the company’s national scale rating to brCC/brC from brBBB-/brA-3.
The ratings also were placed on CreditWatch with negative implications, S&P said.
The CreditWatch listing indicates the risk of a general default over the company’s debt in the next few weeks, the agency said.
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