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S&P downgrades cellphone maker Nokia

, August 16, 2012, 0 Comments

Standard and Poor’s, on Wednesday downgraded Finnish cellphone maker Nokia’s long—term corporate credit rating to BB—, from BB+, citing the likelihood of the company’s deteriorating profitability. S&P also lowered the issue rating for the group’s unsecured debt also to a BB— from a previous BB+ rating.

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