S&P

Nokia shrugs off S&P downgrade, says has enough cash

Reuters News
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Posted: Aug 15, 2012 8:04 AM
Nokia shrugs off S&P downgrade, says has enough cash

HELSINKI (Reuters) - Finnish mobile phone maker Nokia shrugged off Standard & Poor's downgrade of its credit rating, saying it had sufficient liquidity and was conserving cash.

S&P cut Nokia's rating to BB- with a negative outlook, saying its second-quarter results and outlook for the third quarter were weaker than expected.

(Reporting by Helsinki Newsroom; Editing by Helen Massy-Beresford)