Nokia Receives Another Downgrade From Moody’s

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Nokia Receives Another Downgrade From Moody’s
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Nokia Receives Another Downgrade From Moody's

On Monday, Moody’s Corporation (NYSE:MCO) cut Nokia Corporation (NYSE:NOK)’s credit rating down two notches from Ba1 to Ba3. It cited expectations for greater losses by the company, and larger cash spending, than initially anticipated.

Nokia Corporation (NYSE:NOK) has been trying to battle its fall, by using Microsoft Corporation (NASDAQ:MSFT) software, but Apple Inc. (NASDAQ:AAPL) and Samsung have been difficult rivals to successfully challenge.