Bloomberg News

Nokia Sees No Material Impact on Financing Costs From S&P Cut

June 09, 2011

June 9 (Bloomberg) -- Nokia Oyj, the world’s biggest maker of mobile phones by volume, said it doesn’t “expect that S&P’s rating action will have a material impact on our current financing costs,” spokesman James Etheridge said in an e-mailed statement today.

Standard & Poor’s cut Nokia’s long-term credit rating by one level today to BBB+ from A-, and put the company on CreditWatch negative.

To contact the editor responsible for this story: Kati Pohjanpalo at kpohjanpalo@bloomberg.net


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