S&P downgrades Noble Group's rating further into junk, outlook negative

February 26, 2016 2:11 PM

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S&P downgrades Noble Group's rating further into junk, outlook negative

SINGAPORE Ratings agency Standard and Poor's cut Singapore-listed Noble Group's (NOBG.SI) credit rating further into junk territory on Friday and described its outlook as negative.

S&P said it had cut Noble's long-term corporate rating to BB- from BB+. Fellow ratings agency Moody's this week lowered its rating on the commodities' trader to Ba3 from Ba1.

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