Moody's downgraded the rating Nokia to "A2", outlook - "stable"

International rating agency Moody's downgraded the rating on Nokia debt to "A2" from "A1", says a press release agency.

Short-term rating was affirmed at "Prime-1".

Outlooks on both ratings is changed to "stable" from "negative".

Deterioration Nokia rating reflects two main factors. First, the expectations of the expert agency that the situation on the mobile phone market will become more difficult for the company, given the serious competition in a number of attractive market segments. Secondly, the probability that Nokia will not be able to return to the excellent credit quality, which demonstrated the company for many years.



Nokia Financial Statements for the III quarter, published on Thursday showed that the company recorded a loss for the first time since 1996. Losses amounted to 559 million euros against 1.087 billion euro profit a year earlier. The results were surprising - analysts forecast a net profit of 367 million euros. Nokia Revenue decreased by 19,8%, to 9.81 billion euros (expected 10.03 billion euros).

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