Moody's: Telefonica Brasil notes Baa1

Moody's Investors Service and Moody's America Latina assigned a Baa1 rating on the global scale and an Aaa.br rating on the Brazilian National scale, respectively, to $2 billion in non-convertible unsecured debentures to be issued by Telefonica Brasil SA and due in 2017.

Telefonica Brasil's issuer ratings of Baa1/Aaa.br remain unchanged.

Proceeds from the debt issuance will be used to refinance short-term debt and to pay for wireless spectrum just acquired.

The outlook is stable.

© 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.