Moody’s to review, and possibly upgrade, Embratel

15 Nov 2005

Moody’s Investors Service has put the debt ratings of Brazilian long-distance telco Embratel up for review, a move which could lead to an upgrade for the operator. The decision follows an improved capital structure at the telco, after it reported a capital increase of around BRL1.8 million (USD817 million) to pay its existing debts, and is also partly due to Mexican telco Telmex’s increased ownership of the Brazilian operator.