Fitch Negative on Oi

Fitch has revised the outlook on Oi’s BBB rating to negative from stable, it says. Fitch cites the Brazilian telecom’s leverage as among the factors influencing the decision, and adds that it will be watching for signals that the company is reducing its net leverage. If it doesn’t reach net leverage of 2.2x by 2015, the company could see a downgrade, Fitch says.