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Article: Fitch Rates Telemar's US$750MM Proposed Notes 'BBB-'.
- Article from:
- Business Wire
- Article date:
- April 8, 2009
CopyrightCOPYRIGHT 2009 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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MONTERREY, Mexico & RIO DE JANEIRO -- Fitch Ratings has assigned a 'BBB-' to Telemar Norte Leste S.A. (TMAR) proposed senior unsecured notes due 2019 for up to US$750 million. Fitch currently rates Tele Norte Leste Participacoes S.A. (TNE) and TMAR (collectively, Oi), as follows:
Tele Norte Leste Participacoes S.A. (TNE)
--Local Currency Issuer Default Rating (IDR) 'BBB-';
--Foreign Currency IDR 'BBB-';
--National scale rating 'AA+(bra)'.
TMAR
--Local Currency IDR 'BBB-';