Lisbon, 11 May 2020 – ARC Ratings, S.A. (ARC) has downgraded the final public issuer medium and long-term rating assigned to Oásis Atlântico Portugal SGPS, S.A. (Oásis Atlântico) from “BBB-” to “BB”, with Negative outlook, following the placement of the rating under review by ARC on 14 April 2020 and reflecting the major impacts that the Group’s activity is facing from the outbreak of the Covid-19 virus. A regular review of the rating will be completed until 29 June 2020.