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Ericsson comments on first rating by Fitch

As its first rating of Ericsson, Fitch Ratings has assigned a Senior Unsecured rating of 'BB' with a negative outlook. This rating is unsolicited and has no financial impact on Ericsson.

dec 17, 2002 11:15 (GMT +00:00)

Fitch's rating is based on public information and primarily reflects their view of the wireless infrastructure market. We believe their market view is similar to that of the other credit rating agencies.


We reiterate our view that in the short-term the market is uncertain, but remain firmly optimistic in the longer perspective as the global number of subscribers and network traffic continues to grow.


Our cost reductions are on track for returning the company to profit sometime next year and we continue to outperform the market in mobile systems and professional services.
 
Ericsson is shaping the future of Mobile and Broadband Internet communications through its continuous technology leadership. Providing innovative solutions in more than 140 countries, Ericsson is helping to create the most powerful communication companies in the world.


Read more at http://www.ericsson.com/press