S&P further downgrades Nokia after NSN purchase

Helsinki • Ratings agency Standard and Poor’s on Friday downgraded Nokia Corp.’s credit rating, citing the deal this week to buy out Siemens from its Nokia Siemens Networks joint venture for 1.7 billion euros ($2.21 billion). The agency lowered the Finland-based company’s long-term corporate credit rating to B+ from BB-, warning that its strong balance sheet will weaken as a result of the acquisition. S&P also affirmed Nokia’s B short-term corporate credit rating, with a stable outlook, and cut ...

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