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  • Nokia has burned 2.1bn euros in five quarters

                      
    		   
    by
    wraggster
    Published on May 18th, 2012 21:26
    0 Comments Comments
    A poll of 30 banks and brokerages by Reuters revealed the cost of Nokia's debt rising, and that the firm is tearing through reserves at a rate that will wipe out its 4.9 billion euros reserves in a couple years.
    Nokia has two bond issues outstanding: 1.25 billion euros of 5.5 per cent bonds maturing in 2014 and 500 million of 6.75 percent notes due in 2019.
    They're are both junk-rated by Fitch and Standard & Poor's.
    The article reflects a mixed attitude to Nokia's fortunes, with some analysts maintaining its reserves are large enough to see it through, while others are spooked by its burn rate.
    "In our opinion, the company's ability to repay even its shorter-term 2014 bond could be an issue," said Societe General credit analyst Juliano Torii.
    http://www.mobile-ent.biz/news/read/...uarters/018078
    This article was originally published in forum thread: Nokia has burned 2.1bn euros in five quarters started by wraggster View original post
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