Moody's cuts Nokia on weak market position (Reuters)
HELSINKI (Reuters) – Moody's revilement its assign judgement on Nokia, citing the Suomi ambulatory sound company's weakening market function and dubiety over its transition to Microsoft's Windows Phone software.
Moody's said on Thursday that it was cloudy its judgement on Nokia's senior debt to A3 from a previous A2. The agency also revilement the company's short-term debt ratings to Prime-2 from Prime-1, and said the outlook on the ratings was negative.
"The judgement downgrade primarily reflects Nokia's damaged market function in its set business, ambulatory devices, which has low the company's margins and funds from operations," Wolfgang Draak, Moody's senior evilness chair and lead shrink for Nokia, said in a note.
Nokia in Feb dumped its possess code papers in favor of Microsoft Corp's, and analysts hit said it haw lose goodish market deal during the transition.
Standard & Poor's also revilement its judgement on Nokia New terminal month.
(Editing by Jon Loades-Carter)
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