August 15, 2012 / 12:17 PM / in 5 years

Nokia shrugs off S&P downgrade, says has enough cash

HELSINKI (Reuters) - Finnish mobile phone maker Nokia shrugged off Standard & Poor’s downgrade of its credit rating, saying it had sufficient liquidity and was conserving cash.

Nokia phones are displayed in a shop in Riga July 18, 2012. REUTERS/Ints Kalnins

S&P cut Nokia’s rating to BB- with a negative outlook, saying its second-quarter results and outlook for the third quarter were weaker than expected.

Reporting by Helsinki Newsroom; Editing by Helen Massy-Beresford

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