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Submission + - Nokia hits junk credit rating ( 1

arielCo writes: "Quoth the International Business Times UK, among other sources: 'Nokia has had its creditworthiness downgraded to junk status by ratings company Moody's Investors Service after the troubled Finnish communications giant announced thousands of jobs cuts and warned of second quarter losses that are likely to be worse than expected. [...] Moody's had already warned in April that Nokia faced a downgrade to Ba1 — junk status — from Baa3, with a negative outlook.'"
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Nokia hits junk credit rating

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In practice, failures in system development, like unemployment in Russia, happens a lot despite official propaganda to the contrary. -- Paul Licker