Long-Term Local Currency Senior Unsecured Issues

Nokia Oyj

Rating	Watch	Outlook	Decision Date	Action Validity Date	Maximum Validity
BB+		Outlook STA	17.09.2020	23.09.2020
BB+			11.12.2018	17.12.2018

23.09.2020

Based on the unsolicited corporate issuer rating of Nokia Oyj (BB+ / stable) Creditreform Rating has conducted unsolicited corporate issue ratings (ISIN) issued by Nokia Oyj. The rating objects in question are exclusively long-term senior unsecured issues denominated in Euro, which have been issued by Nokia Oyj and included in the list of ECB-eligible marketable assets. The ECB list of eligible marketable assets can be found on the ECB´s website. All the following issues (ISIN) are rated with BB+ / stable.
17.12.2018

Based on the unsolicited corporate issuer rating of Nokia Oyj (BB+ / stable) Creditreform Rating has conducted unsolicited corporate issue ratings (ISIN) issued by Nokia Oyj.
The rating objects in question are exclusively long term senior unsecured issues denominated in Euro, which have been issued by Nokia Oyj and included in the list of ECB-eligible marketable assets. The ECB list of eligible marketable assets can be found on the ECBs website. All the following issues (ISIN) are rated with BB+