S&P cuts Nokia rating to junk

Nokia Oyj’s rating was lowered to junk by Standard & Poor’s, the second debt rating company to strip the Finnish mobile-phone maker of an investment grade after it posted losses at its handset business.

By Bloomberg

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Published: Sat 28 Apr 2012, 11:04 PM

Last updated: Tue 7 Apr 2015, 12:16 PM

The ranking was cut by one step to BB+ from BBB- with a negative outlook, meaning Standard & Poor’s may further reduce the rating, it said in a statement on Friday. Fitch Ratings made the same move this week. Moody’s Investors Service still rates Espoo, Finland-based Nokia’s debt the lowest investment grade. Nokia slipped 0.8 per cent to €2.73 at 2.55pm in Helsinki, giving the company a market value of €10.3 billion.

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