Fitch Ratings has revised its outlook on Ericsson, downgrading the Swedish vendor’s debt ratings to Negative (from Stable) and affirmed the IDR and senior unsecured rating at 'BBB+.’ Cellular News reports that the downgrade reflects concerns over “an increasingly competitive telecoms equipment supply industry, as well maturing telecoms service markets.” These adverse market conditions are said to be weighing on Ericsson's operating and free cash flow margins, which began to weaken in 2011 and remained so in 2012.
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