After Nokia recently gave after a sales warning, the share price went down. To date, the share price was considerably lower than before the negative news. That is the reason for the leading Fitch Group to adjust expectations.
In a scale from AAA to D, Nokia is now ranked BBB-. Reason for the new grade is that Fitch expects no improvement in the poor sales of Symbian devices, and still isn't confident in the success of Windows Phone, the operating system that the Finnish phone manufacturer chose for its new generations of smartphones.
Negative
The BBB rating is just above the 'non-investment' grade. With the current rating, Fitch expects that there is a small of profit from the purchase of Nokia shares, if it's done at the right moment. If Nokias' share price drops even further, then buying a Nokia share will be discouraged. Fitch already calls the outlook for Nokia "negative".
Source: Cellular News