Research Update: Nokia Downgraded To 'BBB-/A-3' On Revised Assessment Of Profitability And Competitive Position; Outlook Negative Mar 12
- Language: English
- Published: March 2012
Finnish mobile telecoms equipment manufacturer Nokia has announced that it expects significantly lower sales and margins for its Devices and Services segment in second-quarter 2011 and has withdrawn its 2011 outlook for this segment. We now anticipate that Nokia will likely report significantly weaker operating results in 2011 than we had expected. We are lowering our ratings on Nokia to 'BBB+/A-2' and placing them on CreditWatch with negative implications. We aim to resolve the CreditWatch following our review of the company's near-term operational prospects; at this stage, we believe the long-term rating will remain investment-grade. On June 9, 2011, Standard & Poor's Ratings Services lowered its long- and short-term corporate credit ratings on Finland-based mobile telecommunications equipment manufacturer Nokia Corp....
Companies mentioned in this report are:
- Nokia Corp.
Action: On CreditWatch:Negative
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases. SHOW LESS READ MORE >