Fitch: Brasil Telecom view positive

Fitch Ratings said it affirmed Brasil Telecom SA's $200 million notes at BBB- and revised the outlook to positive from stable. The notes are supported by a 12-month political-risk insured policy issued by the Overseas Private Insurance Corp. and a six-month offshore cash reserve account.

The rating actions follow the company's acquisition by Tele Norte Leste Participacoes SA. The agency said the affirmation and outlook revision reflect its view of the company's stronger competitive position after the acquisition, its diverse service offering and its solid cash flow generation.

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