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Nokia downgraded by Moody’s on cash-flow concern

Moody's Investors Service has cut Nokia's debt further into junk, the latest downgrade for the company after it bought out its partner in the Nokia Siemens Networks venture for €1.7bn ($2.3bn), Bloomberg has reported. The corporate family rating was lowered one level to B1, or four levels below investment grade, with a negative outlook, Moody's said. Nokia is coping with cash-flow challenges stemming from weaker demand for its phones, it said.