Noble Group Tumbles as S&P's Move Seen as Step Toward Junk
- Noble's liquidity position has deteriorated, according to S&P
- `We are committed to raising capital,' commodity firm says
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Noble Group Ltd., the commodity trader seeking to preserve its investment-grade status, fell in Singapore after Standard & Poor’s joined Moody’s Investors Service in reviewing the company’s ratings amid concern about its liquidity.
“I would say there’s more than a 50 percent chance that Noble will be downgraded to junk,” Trung Nguyen, a Singapore-based credit analyst at Lucror Analytics Pte, said on Tuesday. “That will definitely affect their credit line and access to capital.”