Notice to the Market – Risk Rating Revision

Notice to the Market

Risk Rating Revision

São Paulo, November 4, 2015 – Contax Participações S.A. (“Contax” or “Company”) hereby informs its shareholders, investors and the market in general that Fitch Ratings Brasil Ltda. (“Fitch”) has revised the national long-term rating of the Company and its debenture issues, guaranteed by Contax Mobitel S.A., Contax‘s wholly owned subsidiary, from AA- (bra) to BBB+ (bra), with a negative outlook, according to a report published on November 3, 2015, available on Fitch‘s website (https://www.fitchratings.com).

José Roberto Beraldo
CFO and Investor Relations Officer

IR Contacts:

Tel.: +55 (11) 3131-5136 or +55 (11) 3131-1763
E-mail: ri@contax.com.br
Website: www.contax.com.br/ir