S&P lowers Ericsson to BBB, outlook negative

S&P said it lowered its long-term corporate credit and issue ratings on Ericsson (Telefonaktiebolaget L.M.) to BBB from BBB+.

The outlook is negative.

S&P said it affirmed its short-term rating on the company at A-2 and lowered the short-term Nordic regional scale rating to K-2 from K-1.

S&P said the downgrade reflects Ericsson's weakening operating performance caused by poor industry conditions and intense competition.

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