According to foreign media reports, Moody's Investors Service on Friday announced the Nokia's debt rating cut to junk status the rating outlook to negative. cellphone accessories wholesale
Moody's said in a statement today, Nokia's senior debt rating lowered one level to Ba1, the highest non-investment grade. Nokia said on Thursday its mobile phone business losses will increase. According to Bloomberg data, as of March 31, the company has total debt of 4.92 billion euros ($ 6.2 billion).
Moody's senior vice president Wolfgang Draack said in a statement, Nokia's restructuring plan, "painted by the pressure to perform and the degree of cash consumption are higher than we had envisaged." Samsung Cases
Nokia CEO Stephen Elop announced a restructuring plan on June 14, including up to cut 10,000 jobs, he said the company mobile phone unit in the second quarter operating loss is likely to exceed 3% of sales, the layoffs enough to help the company to prevent The shortage of cash and retain sufficient assets to achieve growth.
Standard & Poor's and Fitch in April Nokia rating lowered to BB + and this is their highest level of junk, the outlook as negative.
The Elop transfer initiatives with Microsoft Windows Phone does not stop the Apple iPhone and Android phones eating into Nokia's smartphone market share. Nokia's first quarter smartphone shipments decreased by 51%, while the low-end mobile phone shipments fell 16 percent. Elop said that competition in the third quarter will be equally severe.
She announced in the June 14 conference call on the reorganization plan, said: "We think we have to spend the transition period required to net cash, and the readjustment of today is to ensure that this idea." leather case for ipad
At the end of the first quarter, Nokia's net cash and other current assets decreased to € 4.9 billion, lower than 5.6 billion euros in 2011 at the end of the end of March 2011, 6.4 billion euros. The company said it expected from the second quarter to the end of 2013 because of the restructuring plan and recorded a 1.25 billion euros in cash outflow.
Moody's said in a statement today, Nokia's senior debt rating lowered one level to Ba1, the highest non-investment grade. Nokia said on Thursday its mobile phone business losses will increase. According to Bloomberg data, as of March 31, the company has total debt of 4.92 billion euros ($ 6.2 billion).
Moody's senior vice president Wolfgang Draack said in a statement, Nokia's restructuring plan, "painted by the pressure to perform and the degree of cash consumption are higher than we had envisaged." Samsung Cases
Nokia CEO Stephen Elop announced a restructuring plan on June 14, including up to cut 10,000 jobs, he said the company mobile phone unit in the second quarter operating loss is likely to exceed 3% of sales, the layoffs enough to help the company to prevent The shortage of cash and retain sufficient assets to achieve growth.
Standard & Poor's and Fitch in April Nokia rating lowered to BB + and this is their highest level of junk, the outlook as negative.
The Elop transfer initiatives with Microsoft Windows Phone does not stop the Apple iPhone and Android phones eating into Nokia's smartphone market share. Nokia's first quarter smartphone shipments decreased by 51%, while the low-end mobile phone shipments fell 16 percent. Elop said that competition in the third quarter will be equally severe.
She announced in the June 14 conference call on the reorganization plan, said: "We think we have to spend the transition period required to net cash, and the readjustment of today is to ensure that this idea." leather case for ipad
At the end of the first quarter, Nokia's net cash and other current assets decreased to € 4.9 billion, lower than 5.6 billion euros in 2011 at the end of the end of March 2011, 6.4 billion euros. The company said it expected from the second quarter to the end of 2013 because of the restructuring plan and recorded a 1.25 billion euros in cash outflow.
No comments:
Post a Comment