Moody's downgrades Nokia debt rating

[The_Unbeliever]

Ratings agency Moody's has lowered its debt rating for Nokia to near junk status, and warned that the company is facing even tougher times ahead.

In a note to investors today Moody's cut the world's largest mobile handset manufacturer's rating from Baa2 to Baa3, its lowest rating for investment grade stock.

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[roguemat]

They have been heading downhill for a while - it's unrealistic to expect the Lumia range to suddenly pull them into massive profits. Especially when their dumb-phone market is bigger than their smartphone market.