S&P Lowers Outlook on Oi S.A. (OIBR) to Negative; Ratings Affirmed

Standard & Poor's Ratings Services revised its outlook on Oi S.A. (NYSE: OIBR) to negative from stable. At the same time, we affirmed all the ratings on the company, including the 'BB+' global scale and 'brAA+' national scale corporate credit ratings.

The negative outlook reflects our view that the company may fail to significantly improve its profitability, and consequently, credit metrics, as previously expected. This stems from challenging macroeconomic conditions and market competition. The outlook revision follows our reassessment of Oi's financial risk profile to "aggressive" from "significant."

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