Nortel Networks 8-K 2008
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) DECEMBER 17, 2008 (DECEMBER 15, 2008)
NORTEL NETWORKS CORPORATION
(Exact name of registrant as specified in its charter)
Registrants telephone number, including area code 905-863-7000
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
Item 1.01 Entry into a Material Definitive Agreement
On December 15, 2008, the registrants principal operating subsidiary, Nortel Networks Limited (NNL) executed a standstill and waiver agreement (the Agreement) with Export Development Canada (EDC). The Agreement provides NNL a 30-day waiver from EDC to permit continued access by NNL to its EDC performance-related support facility (the EDC Facility). Pursuant to the terms of the agreement governing the EDC Facility, the recent downgrade by Moodys of Nortel Networks Corporations corporate family rating to Caa2 would, absent the aforementioned waiver, permit EDC to terminate or suspend the EDC Facility.
Item 9.01 Financial Statements and Exhibits
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: December 17, 2008