Nokia’s Credit Rating Downgraded to Junk
After the of announcing that it will be reducing it’s staff up to 10, 000 by 2013 to combat massive losses, Nokia Corp. is hit once again as its credit rating was downgraded to junk by Moody’s Investors Service last Friday, due to worries of its cash position and slow sales of its new lineups of Windows-based phones. This was not new to the Finnish company as last April, Standard and Poor’s and Fitch Ratings did the same.
For more information about Nokia’s financial woes Read the full article at professional.wsj.com
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