Fitch downgrades Nokia
Fitch downgraded the company to double-B-plus with a negative outlook from an investment grade rating of triple-B-minus after earnings from Nokia's key Devices & Services unit declined rapidly in the first quarter, and Nokia said its operating margin would be negative 3% or lower through the second quarter.
NEW YORK Ratings firm Fitch downgraded six major global banks, citing increased challenges in their business and the prospect of financial turmoil ahead.