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Moody's downgrades Nokia to junk status

Moody's ratings agency on Friday downgraded Nokia's debt grade to junk status, citing greater than anticipated pressure on the struggling cellphone maker's earnings after it announced plans for major cuts and global layoffs. It kept the outlook negative, meaning it could downgrade it again.

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S&P cuts Nokia rating to junk

Standard & Poor's has cut its credit rating on Finnish cellphone maker Nokia to junk on expectations of lower sales, following a similar move by Fitch Ratings earlier this week.

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