Tuesday, 17. April 2012
Topic: Phone - on April 17, 2012 at 10:09:00 AM CEST
Moody's Downgrades Nokia Debt to Near Junk
Moody's ratings agency downgraded Nokia's debt grade to near junk status on Monday, citing a sharp decline in first-quarter cell phone sales that led to a 35 percent fall in revenue.
The agency lowered Nokia Corp.'s long-term credit rating by one notch to Baa3 — just a step above non-investment grade — following last week's profit warning which had caused Nokia's shares to plunge by more than 20 percent.
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