Nokia's credit rating was downgraded Fitch

Nokia has received another blow from the international financial institutions. Fitch Ratings downgraded following the Moody's credit rating companies on the basis of the official results of the first quarter of 2012. In an official statement indicated that, in view of potential obstacles to the development of the company, Fitch does not confident that Nokia will be able to stabilize revenue and profit over the next 18 months. As a result of such a pessimistic assessment of the Finnish manufacturer of mobile technology agency, has downgraded the credit rating to BBB-category, with a negative outlook. The current profile of the company's credit rating seems inappropriate. At the same time representatives of Fitch is not convinced, and the successful launch of a series of smartphones Lumia in the U.S. market: "The launch of the new phone Lumia with AT & T, and the potential launch of new Nokia products at the end of this year, can have a positive impact on the creditworthiness of Nokia. However, there are also numerous negative potential factors that could delay or prevent the full recovery. " Among the factors that may hinder the recovery of the financial situation of the company called the rapid decline of interest in even the simplest phones in emerging markets, only partially successful line of smartphones Lumia and new losses from Nokia Siemens Networks. Nokia has for its part has responded promptly to the message Fitch, releasing your own comment. It says that the company promptly responds to changes in the future will certainly grow and move towards success. This should contribute to the ongoing process of reducing the cost structure of the company, increase cash flow and maintaining a strong financial position. Despite this optimistic view of the Chief Financial Officer of Nokia Ihamuotila Timo (Timo Ihamuotila), in Fitch noted that despite the presence of a strong financial position and large cash reserves, they may be exhausted within 18 months due to ongoing restructuring and negative indicators deal flow, if there is no change in the dynamics.