Nokia comments on Moody's credit rating announcement

Source: Nokia Press - Press Releases - May 12, 2014 

Nokia comments on Moody's credit rating announcement

Espoo, Finland - Nokia notes today's announcement from Moody's, upgrading Nokia's rating to Ba2 from B1.

Nokia announced the completion of the sale of substantially all of its Devices & Services business to Microsoft on April 25, 2014. After this, Nokia announced the appointment of Rajeev Suri as President and Chief Executive Officer for Nokia. Nokia also communicated its vision to be a leader in technologies important in a connected world and strategy to build on Nokia's three strong businesses in networks, location and technologies. In addition, Nokia published plans for a EUR 5 billion program to optimize its capital structure.

"Nokia is pleased to note Moody's positive reaction towards our recent announcements. We believe we have taken the first steps towards our long term target of becoming an investment grade company", said Timo Ihamuotila, Executive Vice President and Group Chief Financial Officer, Nokia.

About Nokia

Nokia invests in technologies important in a world where billions of devices are connected. We are focused on three businesses: network infrastructure software, hardware and services, which we offer through Networks; location intelligence, which we provide through HERE; and advanced technology development and licensing, which we pursue through Technologies. Each of these businesses is a leader in its respective field. http://company.nokia.com