Home Credit Ratings and Research S&P Global Ratings’ Credit Research Nokia Corp.

Nokia And NSN 'B+' Credit Ratings Placed On Watch Positive On Planned Divestment Of Devices&Services Unit

Published Sep 09, 2013

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Abstract:

Finland-based Nokia Corp. has entered an agreement to divest its Devices&Services unit for €5.44 billion, which we believe could improve the group's financial risk profile. We are placing our 'B+' long-term corporate credit rating on Nokia on CreditWatch positive and our 'B+' ratings on Nokia's debt on CreditWatch with developing implications. At the same time, we are placing our 'B+' ratings on Nokia's subsidiary Nokia Solutions and Networks B.V. (NSN) and on NSN's debt on CreditWatch positive. We aim to resolve the CreditWatch over the next few months, as we expect the transaction to close in the first quarter of 2014. At this stage, we see potential for a one-notch upgrade of Nokia and NSN. We could take

Report Type:

Ratings Action

Issuer

Nokia Corp.

GICS

Communications Equipment (45201020)

Sector

Global Issuers

Country

Finland

Region

United States

Format:

HTML

Research Update: Finland-Based Technology Company Nokia And Subsidiary NSN Upgraded To 'BB' On Reduced Debt; Off Watch; Outlook Positive – 2014/05/15 – US$ 225.00

Nokia Corp. – 2014/06/03 – US$ 500.00

Summary: Nokia Corp. – 2014/06/03 – US$ 225.00

Research Update: Finland-Based Technology Company Nokia Upgraded To 'BB+' On Solid Operating Performance; Outlook Positive – 2015/04/17 – US$ 225.00

Nokia Corp. – 2015/06/03 – US$ 500.00

Research Update: Nokia And NSN 'B+' Credit Ratings Placed On Watch Positive On Planned Divestment Of Devices&Services Unit – 2013/09/09 – US$ 225.00

Nokia Downgraded To 'B+' On Acquisition Of 50% NSN Stake And Negative Free Operating Cash Flow Prospects; Outlook Stable – 2013/07/05 – US$ 150.00

Research Update: Nokia Downgraded To 'B+' On Acquisition Of 50% NSN Stake And Negative Free Operating Cash Flow Prospects; Outlook Stable – 2013/07/05 – US$ 225.00

Nokia Corp. – 2013/05/30 – US$ 500.00

Summary: Nokia Corp. – 2013/05/30 – US$ 225.00

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MLA:	S&P Global Ratings’ Credit Research. "Nokia And NSN 'B+' Credit Ratings Placed On Watch Positive On Planned Divestment Of Devices&Services Unit" Sep 09, 2013. Alacra Store. May 03, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Nokia-And-NSN-B-Credit-Ratings-Placed-On-Watch-Positive-On-Planned-Divestment-Of-Devices-Services-Unit-1188566>

APA:	S&P Global Ratings’ Credit Research. (). Nokia And NSN 'B+' Credit Ratings Placed On Watch Positive On Planned Divestment Of Devices&Services Unit Sep 09, 2013. New York, NY: Alacra Store. Retrieved May 03, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Nokia-And-NSN-B-Credit-Ratings-Placed-On-Watch-Positive-On-Planned-Divestment-Of-Devices-Services-Unit-1188566>

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