Moody’s Labels Nokia Junk

Moody’s Investors Service Friday downgraded Nokia Corp.’s credit rating, saying the cellphone company is facing more pressure on its earnings and higher cash burn than it had previously thought.

The downgrade of the ailing handset maker’s credit to Ba1 from Baa3—Moody’s second downgrade of the company within three months—means Nokia’s credit now carries junk status by all the three major credit rating agencies. Nokia’s credit was downgraded to junk by Fitch Ratings and Standard & Poor’s in April.

Read the rest of this post on the original site »


Must-Reads from other Websites

Panos Mourdoukoutas

Why Apple Should Buy China’s Xiaomi

Paul Graham

What I Didn’t Say

Benjamin Bratton

We Need to Talk About TED

Mat Honan

I, Glasshole: My Year With Google Glass

Chris Ware

All Together Now

Corey S. Powell and Laurie Gwen Shapiro

The Sculpture on the Moon

About Voices

Along with original content and posts from across the Dow Jones network, this section of AllThingsD includes Must-Reads From Other Websites — pieces we’ve read, discussions we’ve followed, stuff we like. Six posts from external sites are included here each weekday, but we only run the headlines. We link to the original sites for the rest. These posts are explicitly labeled, so it’s clear that the content comes from other websites, and for clarity’s sake, all outside posts run against a pink background.

We also solicit original full-length posts and accept some unsolicited submissions.

Read more »