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

Nokia Downgraded To 'BB-' On Likely Lower Profitability And Cash Flow; Outlook Negative

Published Aug 15, 2012

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Abstract:

Finnish mobile telecommunications equipment manufacturer Nokia Corp.'s second-quarter results and guidance for the third quarter of 2012 are lower than we previously expected. We now anticipate net cash falling to less than €3 billion by year-end 2012, including cash restructuring outflows. We are lowering our long-term rating on Nokia to 'BB-' from 'BB+' and affirming our 'B' short-term rating. The negative outlook reflects the possibility of another downgrade if Nokia fails to stabilize its margins and significantly cut its cash losses. STOCKHOLM (Standard&Poor's) Aug. 15, 2012--Standard&Poor's Ratings Services said today it had lowered its long-term corporate credit rating on Finnish mobile telecom equipment manufacturer Nokia Corp. to 'BB-' from 'BB+' and affirmed its 'B' short-term corporate

Report Type:

Ratings Action

Issuer

Nokia Corp.

GICS

Communications Equipment (45201020)

Sector

Global Issuers

Country

Finland

Region

United States

Format:

HTML

Summary: Nokia Corp. – 2013/02/21 – US$ 225.00

Nokia Corp. – 2013/05/30 – US$ 500.00

Summary: Nokia Corp. – 2013/05/30 – 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

Research Update: Nokia Downgraded To 'BB-' On Likely Lower Profitability And Cash Flow; Outlook Negative – 2012/08/15 – US$ 225.00

Nokia Corp. – 2012/05/29 – US$ 500.00

Summary: Nokia Corp. – 2012/05/29 – 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: Nokia Downgraded To 'BB+/B' On Revised Profitability And Free Operating Cash Flow; Outlook Negative – 2012/04/27 – US$ 225.00

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MLA:	S&P Global Ratings’ Credit Research. "Nokia Downgraded To 'BB-' On Likely Lower Profitability And Cash Flow; Outlook Negative" Aug 15, 2012. Alacra Store. May 04, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Nokia-Downgraded-To-BB-On-Likely-Lower-Profitability-And-Cash-Flow-Outlook-Negative-1001478>

APA:	S&P Global Ratings’ Credit Research. (). Nokia Downgraded To 'BB-' On Likely Lower Profitability And Cash Flow; Outlook Negative Aug 15, 2012. New York, NY: Alacra Store. Retrieved May 04, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Nokia-Downgraded-To-BB-On-Likely-Lower-Profitability-And-Cash-Flow-Outlook-Negative-1001478>

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