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Research Update: Nokia Downgraded To 'B+' On Acquisition Of 50% NSN Stake And Negative Free Operating Cash Flow Prospects; Outlook Stable

Published Jul 05, 2013

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Abstract:

Finland-based Nokia Corp. has entered an agreement to take over Siemens' 50% stake in Nokia Siemens Networks for €1.7 billion. We now anticipate Nokia's net cash could be as low as €1.3 billion at the end of 2013. We are lowering our long-term rating on Nokia to 'B+' from 'BB-' and affirming our 'B' short-term rating. The stable outlook assumes a significant reduction in cash losses and gradual market share improvement. On July 5, 2013, Standard&Poor's Ratings Services lowered its long-term corporate credit rating on Finnish mobile telecommunications equipment manufacturer Nokia Corp. to 'B+' from 'BB-' and affirmed the 'B' short-term corporate credit rating. The outlook is stable. At the same time, we lowered our issue rating on

Report Type:

Research Update

Issuer

Nokia Corp.

GICS

Communications Equipment (45201020)

Sector

Global Issuers

Country

Finland

Region

United States

Format:

HTML

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Cite this Report


MLA:	S&P Global Ratings’ Credit Research. "Research Update: Nokia Downgraded To 'B+' On Acquisition Of 50% NSN Stake And Negative Free Operating Cash Flow Prospects; Outlook Stable" Jul 05, 2013. Alacra Store. May 04, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Nokia-Downgraded-To-B-On-Acquisition-Of-50-NSN-Stake-And-Negative-Free-Operating-Cash-Flow-Prospects-Outlook-Stable-1156390>

APA:	S&P Global Ratings’ Credit Research. (). Research Update: Nokia Downgraded To 'B+' On Acquisition Of 50% NSN Stake And Negative Free Operating Cash Flow Prospects; Outlook Stable Jul 05, 2013. New York, NY: Alacra Store. Retrieved May 04, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Nokia-Downgraded-To-B-On-Acquisition-Of-50-NSN-Stake-And-Negative-Free-Operating-Cash-Flow-Prospects-Outlook-Stable-1156390>

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