Nokia downgraded after NSN purchase

Press Association
Updated

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Ratings agency Standard and Poor's has downgraded Nokia's credit rating, citing the deal this week to buy out Siemens from its Nokia Siemens Networks joint venture for 1.7 billion euro (£1.1 billion).

The agency lowered the Finland-based company's long-term corporate credit rating to B+ from BB-, warning that its strong balance sheet will weaken as a result of the acquisition.
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