Reuters are reporting this morning that Fitch Ratings has downgraded its credit rating on struggling Finnish smartphone manufacturer Nokia to junk status and said the outlook remained negative. Nokia’s rating with Fitch was at BB+ but now it has been reduced to BBB- and Fitch went as far to say that this could be downgraded significantly lower unless Nokia’s business showed improvements over the second half of 2012 and into 2013. Fitch commented, "given the potential headwinds facing the company, Fitch is currently not convinced that Nokia can attain this over the course of 18 months". The Chief Financial Officer for Nokia, Timo Ihamuotila responded with this statement, "Nokia will…