Oi S.A.: Notice to the Market - Fitch rating

                 Oi S.A.: Notice to the Market - Fitch rating

PR Newswire

RIO DE JANEIRO, Aug. 16, 2013

RIO DE JANEIRO, Aug. 16, 2013 /PRNewswire/ -- Oi S.A. (BOVESPA: OIBR3, OIBR4;
NYSE: OIBR.C, OIBR) (the "Company") discloses to its shareholders and the
market in general that Fitch announced today its review of the credit rating
attributed to the Company, downgrading the long-term rating from BBB to BBB-.
The outlook remains negative.

Bayard De Paoli Gontijo
Investor Relations Officer
Oi S.A.

SOURCE Oi S.A.

Contact: Patricia Frajhof, +55-21-3131-1315, patricia.frajhof@oi.net.br
 
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