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May 16, 2014
06:30 EDTNOKNokia, NSN upgraded to BB by S&P
Standard & Poor's Ratings Services has raised its long-term corporate credit rating on Finnish technology company Nokia Corp. and on its subsidiary Nokia Solutions and Networks B.V. to 'BB' from 'B+'. The outlook is positive. S&P also affirmed the 'B' short-term rating on Nokia. S&P says "The upgrade reflects our anticipation that the company will reduce gross debt by EUR2 billion by using part of the EUR5.6B proceeds from the sale of its cash-burning Device & Services division, and will keep comfortable cash balances even after Nokia's announced EUR3B of shareholder returns. Given the importance of NSN for the Nokia group following the sale of the cash-burning D&S, we will now equalize our rating on NSN with that on Nokia. The upgrade of NSN therefore reflects our view of NSN as a 'core' subsidiary of Nokia, based notably on its integrated and material role for Nokia and Nokia's full ownership. As per our group rating methodology, the ratings and outlook on NSN mirror the long-term corporate credit rating and outlook on Nokia."
News For NOK From The Last 14 Days
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October 7, 2015
05:39 EDTNOKNokia CFO Timo Ihamuotila to serve as CFO of combined company
The combined company is expected to have a common sales organization across the business groups, except for Nokia Technologies. In addition, effective after the closing of the exchange offer, there would be six additional unit leaders within the combined company, who would report directly to the president and CEO: Timo Ihamuotila, currently EVP and Group CFO, Nokia, would serve as CFO. Ashish Chowdhary, currently Chief Business Officer, Nokia Networks, would serve as Chief Customer Operations Officer. Marc Rouanne, currently EVP, Mobile Broadband, Nokia Networks, would serve as Chief Innovation & Operating Officer. Hans-Jurgen Bill, currently EVP, Human Resources, Nokia, would serve as Chief Human Resources Officer. Kathrin Buvac, currently Vice President, Corporate Strategy, Nokia Networks, would serve as Chief Strategy Officer. Barry French, currently Chief Marketing Officer and EVP, Marketing and Corporate Affairs, Nokia, would serve as Chief Marketing Officer. Maria Varsellona, currently EVP and Chief Legal Officer, Nokia, would serve as Chief Legal Officer.
05:33 EDTNOKNokia expects to align financial reporting under two key areas
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05:28 EDTNOKNokia reports planned organizational structure for Nokia, Alcatel-Lucent
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September 23, 2015
09:11 EDTNOKNokia's HERE selected by Georgia, Alabama, Missouri transportation departments
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