News | 07/23/2001 4:00 am EDT
Nortel announces record loss for Q2
Once the darling of the Canadian telecom market, Nortel Networks Corp has come crashing down to earth. The company reported the largest quarterly loss in Canadian history – US$19.4 billion in the second quarter of 2001. The Standard & Poor’s Corp has lowered the firm’s credit rating from single-A to tripple-B. More details.