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'Second Fitch Rating Cut to Nokia'

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Second Fitch Rating Cut to Nokia

12/26/09 09:20

A Bloomberg report - 'Nokia Rating Cut by Fitch on Smart Phones, Margins (Update3)', says that the Nokia's credit rating was cutted by Fitch ratings.

The London based ratings company gave Nokia's long-term debt to A which is for level above junk or non-investment grade.

The move was done because Fitch is concerned about the growing competition in the market of smart phones where competitors like Apple Inc.(iPhone) and Research in Motion Ltd.(BlackBerry), have already established its positions.

More details on the full article, link provided below.

Link: Nokia Rating Cut by Fitch on Smart Phones, Margins (Upd

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