Notice to the Market – Rating Review

Notice to the Market

São Paulo, July 11, 2017. Contax Participações S.A. (“Contax” or “Company”) hereby announces to its shareholders, investors and to the market in general that, on this date, Fitch Ratings Brasil Ltda. (“Fitch”) downgraded the Long Term National Ratings of the Company and its first and third issue of debentures, with guarantees of Contax-Mobitel S.A., the Company‘s wholly-owned subsidiary, to ‘C(bra)’ from ‘CC(bra)’, pursuant to the report published on July 11, 2017 and available on Fitch‘s website (https://www.fitchratings.com).

Cristiane Barretto Sales
Chief Financial and Investor Relations Officer