TSU Related Downgrades

Aug 22, 2012 10:13 AM Bernstein Downgrades TIM Participacoes (TSU) to Market Perform

Jul 20, 2012 06:49 AM BofA/Merrill Lynch Downgrades TIM Participacoes (TSU) to Neutral

Feb 27, 2012 11:16 AM Standpoint Research Downgrades TIM Participacoes (TSU) to Hold; Valuation Call

Dec 5, 2011 11:10 AM Standpoint Research Downgrades Sabesp (SBS) to Hold; Better Value in TIM Participacoes (TSU)

Oct 19, 2010 01:35 PM Barclays Downgrades TIM Participacoes S.A. (TSU) to Equalweight

May 7, 2009 08:38 AM Oscar Gruss Downgrades TIM Participacoes (TSU) to Reduce After Q1 Results

May 30, 2008 08:03 AM Morgan Stanley Downgrades TIM Participacoes (TSU) to Underweight

Mar 10, 2008 09:10 AM Credit Suisse downgrades TIM Participacoes SA (TSU) to Neutral

Oct 4, 2007 07:25 AM Merrill Lynch downgrades TIM Participacoes SA (TSU) to Neutral

Oct 1, 2007 07:51 AM JP Morgan downgrades TIM Participacoes SA (TSU) to Neutral

Jun 29, 2007 07:23 AM JP Morgan downgrades TIM Participacoes SA (TSU) to Neutral