S&P upgrades Oi

S&P said it raised its global and national scale issuer credit ratings on Oi SA to CCC+ and brBB, respectively, from SD to reflect the completion of the judicial reorganization plan amendment and the ongoing risk of a conventional default.

Also, S&P upgraded the issue-level rating on Oi’s unsecured debt to CCC+ from CCC- based on its unchanged recovery rating of 4.

The outlook is stable.

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