Fitch affirms Tele Norte

Fitch Ratings said it has taken the following actions for Tele Norte Leste Participacoes SA and Telemar Norte Leste SA: Tele Norte at local currency issuer default rating affirmed at BBB-, foreign currency issuer default rating affirmed at BBB- and national-scale rating affirmed at AA+(bra) as well as Telemar at local currency issuer default rating affirmed at BBB-, foreign currency issuer default rating affirmed at BBB- and national-scale rating affirmed at AA+(bra).

All ratings are removed from negative rating watch, the agency said.

The outlook is stable.

Fitch said it has also assigned a BBB- rating to the proposed $1.5 billion senior notes to be offered by Telemar.

© 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.