Fitch downgrades Nokia (NOK) from BBB- to BB+, or junk status, despite the handset maker sitting...


Fitch downgrades Nokia (NOK) from BBB- to BB+, or junk status, despite the handset maker sitting on €4.9B of net cash. Fitch said it could cut the company's ratings further unless its preformance starts to improve over the second half of 2012 and in 2013. But given the headwinds, Fitch is not convinced that Nokia can manage this.

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Comments (4)
  • barcaboyvn
    , contributor
    Comments (276) | Send Message
     
    I don't like those dumb analysts!
    24 Apr 2012, 07:01 AM Reply Like
  • DeepValueLover
    , contributor
    Comments (11221) | Send Message
     
    Sad end to a once great mobile leader...
    24 Apr 2012, 08:30 AM Reply Like
  • Contrariety
    , contributor
    Comments (24) | Send Message
     
    Hmm, not unreasonable given current cash burn rates but I thought they my wait given current liquidity and lack of debt.
    24 Apr 2012, 09:20 AM Reply Like
  • gjg49
    , contributor
    Comments (510) | Send Message
     
    excuse me, but that should be pERformance, not preformance
    24 Apr 2012, 10:16 AM Reply Like
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