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Analysts drop Nokia credit rating to junk

Nokia's financial situation isn't looking too bright, as the Finnish company's credit rating is reduced to junk by multiple agencies.Moody's downgraded Nokia's long-term credit rating to Ba1 status, making it the last of the three major credit rating agencies to drop Nokia from investment grade to junk status.Fitch, which had already downgraded Nokia's credit rating to junk in April along with Standard & Poor, lost even more confidence in the OEM by downgrading Nokia's debt rating from BB+ down two notches to BB-.The ratings drops follow Nokia's announcement yesterday that...

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Published By: Tech Radar - Friday, 20 July, 2012

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