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News Summary: S&P downgrades Nokia further

By The Associated Press
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LOWER RANKINGS: Rating agency Standard and Poor’s downgraded Nokia Corp.’s long-term corporate credit rating further into junk status.

THE DETAILS: While cutting its rating on Nokia by two notches to BB-, S&P warned there could be further downgrades. For S&P, anything below BBB- is considered junk status, or not investment grade.

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