The bad news just keeps coming for Nokia.
Standard & Poor's Ratings Services today announced that it has downgraded Nokia's long-term corporate credit rating from BB+ to BB-. Although both ratings are considered "junk status," BB- is a lower rating, indicating that the company "faces major ongoing uncertainties to adverse business, financial, and economic conditions." S&P has affirmed an even worse B rating on Nokia's short-term credit.
"The rating actions reflect a downward revision of our estimates of revenues and profitability for Nokia's smartphone operations in 2012 and 2013,&… Read more