Roundup: Moody's-Oi, LIME, Asep

- Thursday, September 15, 2011

Roundup: Moody's-Oi, LIME, Asep

Moody's has assigned a Baa3 local currency and Aa1.br national scale ratings to Telemar Participações' proposed seven-year senior unsecured bonds worth 500mn reais (US$291mn), the ratings agency said in a statement.

Telemar Participações is a unit of Brazil's largest telecommunications company, Oi (NYSE: TNL).

"The proposed new issuance is part of Telemar Participações' liability management to improve its debt maturity profile, and will not affect its leverage metrics since the majority of the net proceeds will be used to pay off maturing debt," Moody's said.

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LIME, the Caribbean division of Cable & Wireless Communications (C&WC), has launched a low-cost laptop promotion in Jamaica and St Lucia to promote broadband access, C&WC said in a statement.

LIME will offer the FLIPTop laptop, an ultra-thin, WiFi-enabled device that has a 160GB hard drive, 1GB of ram, a 1.3-megapixel camera. The laptop comes with the Windows 7 operating system.

In Jamaica, the laptop will cost J$14,000 (US$163) coupled with a two-year broadband contract with LIME. In St Lucia the laptop is available for EC$499 (US$184) with free installation, a modem and 50% off the cost of a broadband package for the first three months.

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Panama formally began on Wednesday (Sep 14) its transition from analogue to digital TV, utilities regulator Asep said in a statement.

Panama is adopting European terrestrial digital TV standard DVB-T. The Panamá and Colón provinces will be the first to adopt digital TV, and the rest of the country will come on board gradually.

Panama first started broadcasting digital TV in December 2009 with a public network Sertv.