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Moody’s cuts Ericsson’s rating

Ericsson has its credit rating cut by Moody’s after the it said it won’t reach the profit goals it had set for itself. ||| Helsinki - Ericsson had its credit rating cut by Moody’s Investors Service after the Swedish phone-network maker revealed this week that waning demand means it won’t reach the profit goals it had set for itself. The rating was reduced one level to Baa2 from Baa1, Moody’s said in a statement Friday.
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