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Nokia Is Almost "Junk", Says Moody's

hypnosec (2231454) writes | more than 2 years ago

Businesses 0

hypnosec (2231454) writes "Moody's rating agency pointed out that Nokia's steep decline in the Q1 of this year justifies a serious downgrade. Consequently, Nokia Corp.'s long-term rating is now at Baa3, which means a warning for investors to stay away. The situation was caused by Nokia's fall in revenue by 35 per cent. Meanwhile, Nokia's shares fell by 20 per cent, after the agency last week issued a profit warning. This critical situation for the Finnish smartphone maker could potentially get even worse if Nokia does not show signs of recovery in the following months."
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