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Finnish Mobile Handset Maker Nokia Cut To 'BBB+/A-2'; On Watch Neg On Likely Weaker 2011 Operating Performance

Published Jun 09, 2011

1556 words — Published Jun 09, 2011

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Abstract:

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it expects significantly lower sales and margins for its Devices and Services segment in second-quarter 2011 and has withdrawn its 2011 outlook for this segment.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. FRANKFURT (Standard&Poor's) June 9, 2011--Standard&Poor's Ratings Services said today that it had lowered its long- and short-term corporate credit ratings on

Brief Excerpt:

RESEARCH Finnish Mobile Handset Maker Nokia Cut To '###+/A-2'; On Watch Neg On Likely Weaker 2011 Operating Performance Publication date: 09-Jun-2011 Primary Credit Analyst: Matthias Raab, CFA, Frankfurt (49) 69-33-999-122; matthias_raab@standardandpoor...

Report Type:

Ratings Action

Issuer

Nokia Corp.

GICS

Communications Equipment (45201020)

Sector

Global Issuers

Country

Finland

Region

United States

Format:

HTML

Finnish Mobile Handset Maker Nokia Downgraded To 'BBB' On Likely Weaker Profitability; 'A-2' Affirmed; Outlook Negative – 2011/08/02 – US$ 150.00

Research Update: Finnish Mobile Handset Maker Nokia Downgraded To 'BBB' On Likely Weaker Profitability; 'A-2' Affirmed; Outlook Negative – 2011/08/02 – US$ 225.00

Nokia Downgraded To 'BBB-/A-3' On Revised Assessment Of Profitability And Competitive Position; Outlook Negative – 2012/03/02 – US$ 150.00

Research Update: Nokia Downgraded To 'BBB-/A-3' On Revised Assessment Of Profitability And Competitive Position; Outlook Negative – 2012/03/02 – US$ 225.00

Nokia Downgraded To 'BB+/B' On Revised Profitability And Free Operating Cash Flow; Outlook Negative – 2012/04/27 – US$ 150.00

Research Update: Finnish Mobile Handset Maker Nokia Cut To 'BBB+/A-2'; On Watch Neg On Likely Weaker 2011 Operating Performance – 2011/06/09 – US$ 225.00

Nokia Corp. – 2011/05/17 – US$ 500.00

Summary: Nokia Corp. – 2011/05/17 – US$ 225.00

Nokia Long-Term Rating Lowered To 'A-' On Likely Weaker Operating Margins; Short-Term 'A-1' Affirmed; Outlook Stable – 2011/03/30 – US$ 150.00

Research Update: Nokia Long-Term Rating Lowered To 'A-' On Likely Weaker Operating Margins; Short-Term 'A-1' Affirmed; Outlook Stable – 2011/03/30 – US$ 225.00

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Cite this Report


MLA:	S&P Global Ratings’ Credit Research. "Finnish Mobile Handset Maker Nokia Cut To 'BBB+/A-2'; On Watch Neg On Likely Weaker 2011 Operating Performance" Jun 09, 2011. Alacra Store. May 04, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Finnish-Mobile-Handset-Maker-Nokia-Cut-To-BBB-A-2-On-Watch-Neg-On-Likely-Weaker-2011-Operating-Performance-871411>

APA:	S&P Global Ratings’ Credit Research. (). Finnish Mobile Handset Maker Nokia Cut To 'BBB+/A-2'; On Watch Neg On Likely Weaker 2011 Operating Performance Jun 09, 2011. New York, NY: Alacra Store. Retrieved May 04, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Finnish-Mobile-Handset-Maker-Nokia-Cut-To-BBB-A-2-On-Watch-Neg-On-Likely-Weaker-2011-Operating-Performance-871411>

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