Noble Group Ends a Turbulent Year With Cut to Junk From Moody's
- Shares tumble in Singapore amid attacks, rout in commodities
- Company says Noble Agri deal will help improve its metrics
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Asia’s top commodity trader exits 2015 in very different shape to how it began the year.
Noble Group Ltd. has lost almost two-thirds of its value, with its stock trading near the lowest since 2008, after a year of attacks on its finances by critics including the anonymous Iceberg Research and short-seller Muddy Waters LLC. The latest blow, amid a rout in raw materials, was the cut in its credit rating to junk by Moody’s Investors Service on concerns over its liquidity.