PARIS: International ratings agency Fitch on Friday downgraded the long-term debt of Finnish telecommunications equipment maker Nokia by two notches from “BB+” to “BB-” and said the outlook was negative.
Fitch noted in a statement that it had said previously that it would take such a move if the agency “was not convinced that Nokia could stabilise the revenue declines and be capable of generating positive single digit operating margins in its Devices and Services
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