PARIS: The ratings agency Moody's downgraded the long-term credit rating of Finnish telecommunications group Nokia to the speculative level of "Ba1" and said its outlook remained negative.
"Today's rating action reflects our view that Nokia's far-reaching restructuring plan ... delineates a scale of earnings pressure and cash consumption that is larger than we had previously assumed," a statement said. (AFP)
Saturday, June 16, 2012
Moody's downgrades Nokia credit rating to junk status
PARIS: The ratings agency Moody's downgraded the long-term credit rating of Finnish telecommunications group Nokia to the speculative level of "Ba1" and said its outlook remained negative.
"Today's rating action reflects our view that Nokia's far-reaching restructuring plan ... delineates a scale of earnings pressure and cash consumption that is larger than we had previously assumed," a statement said. (AFP)
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment