NOBLE GROUP LIMITED
N21.SI
Noble: S&P cuts credit rating; Fitch affirms rating
- Rating agency Standard & Poor's (S&P) has cut its investment credit rating on Noble Group Ltd to junk yesterday, just a week after Moody's downgrade.
- S&P noted that "the current depressed commodities markets and heightened risk aversion by lenders could complicate the company's fund raising plans for the next few months."
- However, Noble said that the downgrade is not expected to have a material impact on its operations, noting that the increased collateral calls have been immaterial and below the previously indicated range of US$100-200m.
- Management also highlighted that Fitch has affirmed Noble’s rating.
- We currently have a HOLD on the stock with a fair value of S$0.44.
Carey Wong CFA
OCBC Securities
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http://www.ocbcresearch.com/
2016-01-08
OCBC Securities
SGX Stock
Analyst Report
0.44
Same
0.44
