Ericsson (ERIC) Announces Joining CBRS Alliance
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S&P Downgrades Ericsson (ERIC) to 'BBB'; Outlook is Negative
October 17, 2016 12:51 PM EDTS&P Global Ratings said today that it lowered its long-term corporate credit and issue ratings on Ericsson (Telefonaktiebolaget L.M.) (Nasdaq: ERIC) to 'BBB' from 'BBB+'. The outlook is negative. We affirmed our short-term rating on the company at 'A-2' and lowered our short-term Nordic regional scale rating to 'K-2' from 'K-1'.
The downgrade reflects Ericsson's weakening operating performance caused by poor industry conditions and intense competition. We think that demand for mobile telecom equipment will continue to decline until at least the second half of 2017. Furthermore, Ericsson's... More
