Fitch and S & P cut ratings of Brazilian operator Hi – publico

                 

                         
                     

                 

 
 

The financial rating agencies Standard & amp; Poor’s and Fitch lowered the rating long-term Brazilian telecommunications company Hi.

The information was released to the Portuguese Securities Market Commission (CMVM) by the company Portuguese Pharol, the former PT SGPS, which owns 27.5% of the operator Hi, between direct and indirect participation

the Standard & amp.; Poor’s lowered the rating assigned to the Brazilian operator on one level, from BB- to B +, while Fitch decreased by three levels from BB to B.

In both cases, the ratings assigned are out of investment grade (ie, are considered speculative investment or “junk”), and may yet again be cut, since the perspective given by the rating is “negative”.

last week it was known that the Italian operator TIM informed the Russian fund LetterOne Technology that does not intend to further negotiations with the Hi with a view to merging assets.