Rating Agency

Oi's proposal to amend its original Judicial Reorganization Plan (JRP) and pre-pay its bank lenders and Export Credit Agencies (ECAs) at or near fair market value, but less than par, does not constitute a default, or a distressed debt exchange (DDE), in Fitch Ratings' view. More

Historically, there has not been significant sector concentration for defaults in the region. However, most of the defaults YTD have been in the airline, non-food retail and gaming sectors, which are highly exposed to the coronavirus pandemic due to significantly reduced demand for these non-essential products and services. More