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Nokia Downgraded To 'BB+/B' On Revised Profitability And Free Operating Cash Flow; Outlook Negative

Published Apr 27, 2012

1604 words — Published Apr 27, 2012

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Abstract:

Finland-based mobile telecommunications equipment manufacturer Nokia Corp. reported a 29% quarterly decline in sales and negative margins at its Devices and Services division in the first quarter of 2012, and gave guidance of "similar or below" for the division's margin in the second quarter. We now expect Nokia to report significantly lower margins and cash flows in 2012 than we had previously expected. We are lowering our long-term corporate credit rating on Nokia to 'BB+' from 'BBB-' and our short-term rating to 'B' from 'A-3'. The outlook is negative, reflecting the possibility of a further downgrade if Nokia fails to stabilize revenues and margins and significantly cut its cash losses. STOCKHOLM (Standard&Poor's) April 27, 2012--Standard&Poor's Ratings

Brief Excerpt:

RESEARCH Nokia Downgraded To '##+/B' On Revised Profitability And Free Operating Cash Flow; Outlook Negative Publication date: 27-Apr-2012 Primary Credit Analyst: Thierry Guermann, Stockholm (46) 8-440-5905; thierry_guermann@standardandpoors.com...

Report Type:

Ratings Action

Issuer

Nokia Corp.

GICS

Communications Equipment (45201020)

Sector

Global Issuers

Country

Finland

Region

United States

Format:

HTML

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MLA:	S&P Global Ratings’ Credit Research. "Nokia Downgraded To 'BB+/B' On Revised Profitability And Free Operating Cash Flow; Outlook Negative" Apr 27, 2012. Alacra Store. May 04, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Nokia-Downgraded-To-BB-B-On-Revised-Profitability-And-Free-Operating-Cash-Flow-Outlook-Negative-961155>

APA:	S&P Global Ratings’ Credit Research. (). Nokia Downgraded To 'BB+/B' On Revised Profitability And Free Operating Cash Flow; Outlook Negative Apr 27, 2012. New York, NY: Alacra Store. Retrieved May 04, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Nokia-Downgraded-To-BB-B-On-Revised-Profitability-And-Free-Operating-Cash-Flow-Outlook-Negative-961155>

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