Ericsson’s Debt Rating Cut by Moody’s on Profitability Concern
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Ericsson AB, the world’s largest maker of wireless equipment, had its debt rating cut by Moody’s Investors Service, which cited concerns about the manufacturer’s profitability.
The senior unsecured rating was lowered by one step to Baa1, the third-lowest investment grade, Moody’s said in a statement today. The outlook is stable. The change puts Ericsson’s rating in line with the BBB+ by Standard and Poor’s and Fitch Ratings.