Corporate Taxpayer's ID (CNPJ/ME): 02.421.421/0001-11
Corporate Registry (NIRE): 33.300.324.631
NOTICE TO THE MARKET
Fitch assigns first-time "AAA(bra)" national scale rating to TIM S.A.
TIM S.A. ("TSA" or "Company") (B3: TIMS3; NYSE: TIMB), informs its shareholders, the market in general and other interested parties that, on this date, the credit rating agency Fitch Ratings ("Fitch") assigned to the Company the Initial Long-Term Rating on a National Scale "AAA(bra)", with a stable outlook. Concurrently, Fitch has withdrawn TIM Participações S.A. "AAA(bra)" national scale rating, as it was incorporated by TIM and no longer exists.
In Fitch's view, TIM's rating reflects its strong business profile, supported by its relevant participation in the mobile telephony sector, as well as the Company's conservative financial metrics, with reduced financial leverage and robust liquidity position. The analysis also incorporates the expectation that TIM will present growing cash flows from operations and that the Company is prepared to deal with the competitive and regulated telecommunications sector in Brazil.
The original Fitch's note is available for access here.
Rio de Janeiro, November 17th, 2020.
Chief Financial Officer and
Investor Relations Officer
Classificado como Público
This is an excerpt of the original content. To continue reading it, access the original document here.
TIM SA published this content on 17 November 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 November 2020 21:56:03 UTC