[6-K] TIM S.A. American Current Report (Foreign Issuer)

Rhea-AI Filing Summary

On 23 June 2025, TIM S.A. (B3: TIMS3; NYSE: TIMB) submitted a Form 6-K to inform investors that Fitch Ratings has affirmed the Company’s National Long-Term Rating at “AAA (bra)” and maintained a Stable Outlook. This rating is the highest attainable on the Brazilian national scale and signals continued confidence in TIM’s creditworthiness. The notice, signed by CEO and Investor Relations Officer Alberto Mario Griselli, contains no additional financial data, earnings information, or strategic transactions. Its sole purpose is to communicate Fitch’s confirmation, which supports the Company’s access to capital markets and reinforces its strong liquidity profile.

Positive

• Fitch affirmed TIM S.A.’s National Long-Term Rating at “AAA (bra)”, the highest level on Brazil’s scale, reinforcing strong credit quality.
• Stable Outlook maintained, indicating Fitch expects no adverse changes in the near term.

Negative

• None.

Insights

Credit Analyst

TL;DR: Fitch reaffirms TIM’s domestic rating at “AAA (bra)”; stable outlook signals sustained top-tier credit quality.

The unchanged “AAA (bra)” rating represents Fitch’s highest national-scale assessment, suggesting negligible default risk within Brazil. Maintaining a Stable Outlook indicates Fitch foresees no material deterioration in TIM’s cash-flow generation, leverage, or market position. Although the filing lacks hard numbers, affirmation alone can lower funding costs, preserve covenant headroom, and provide support for future capex or spectrum auctions. The disclosure is narrowly focused but positive for debt holders and indirectly supportive for equity investors by validating financial resilience.

Portfolio Manager

TL;DR: Rating affirmation removes downside credit risk; modest positive for bond spreads, neutral-to-slight positive for equity.

From a portfolio perspective, the Stable “AAA (bra)” keeps TIM in the top credit bucket, limiting spread volatility on its local-currency bonds. While not transformative for the stock, the news reduces uncertainty around refinancing ahead of Brazil’s 2025–2026 rate cycle and supports dividend sustainability. With no incremental guidance on earnings or capex, impact is mainly risk-reduction rather than growth-enhancing.

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934

Date of Report: June 23, 2025

Commission File Number: 001-39570

TIM S.A.
(Exact name of Registrant as specified in its Charter)

João Cabral de Melo Neto Avenue, 850 – North Tower – 12^th floor
22775-057 Rio de Janeiro, RJ, Brazil
(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F ☒ Form 40-F ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1).

Yes ☐ No ☒

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7).

Yes ☐ No ☒

 

 

 

TIM S.A.

Publicly-Held Company

Corporate Taxpayer's ID (CNPJ/MF): 02.421.421/0001-11

Corporate Registry (NIRE): 33.300.324.631

 

 

NOTICE TO THE MARKET

 

Fitch has affirmed TIM S.A.’s National Long-Term Rating at ‘AAA (bra)’; Outlook Stable.

 

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”) has affirmed to the Company the National Long-Term Rating at ‘AAA (bra)’, with a Stable Outlook.

 

The original Fitch’s note is available for access here.

 

 

Rio de Janeiro, June 23rd, 2025.

 

 

 

TIM S.A.

Alberto Mario Griselli

Chief Executive Officer and

Investor Relations Officer

 

 

 

 

 

 

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 	 	TIM S.A.
Date: June 23, 2025	 	By:	/s/ Alberto Mario Griselli
 	 	 	Alberto Mario Griselli
 	 	 	Chief Executive Officer, Chief Financial Officer and Investor Relations Officer

  

 

 

FAQ

What credit rating did Fitch assign to TIMB on 23 June 2025?

Fitch affirmed TIM S.A.’s National Long-Term Rating at “AAA (bra)” with a Stable Outlook.

Did Fitch change TIMB’s credit outlook?

No. Fitch kept the Outlook Stable, indicating the rating is expected to remain unchanged in the medium term.

Why did TIMB file a Form 6-K on this topic?

The Form 6-K serves as a market notice to inform investors of the rating affirmation under SEC disclosure rules.

Does the filing include new financial results or guidance?

No. The document only communicates the rating affirmation and contains no financial statements or earnings data.

Who signed the 6-K on behalf of TIM S.A.?

The filing was signed by Alberto Mario Griselli, Chief Executive Officer, Chief Financial Officer, and Investor Relations Officer.