Noble Group Credit Rating Cut by S&P Despite Cash Raising
- S&P calls Noble’s weakened liquidity ‘less than adequate’
- Company says it doesn’t agree with the S&P assessment
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Noble Group Ltd.’s credit rating was cut by S&P Global Ratings for the second time in six months, with the agency citing its weakened liquidity position and higher funding costs despite recent efforts to raise cash.
The rating was lowered to B+ from BB-, with a negative outlook, S&P said Wednesday. In a statement Thursday, Noble said it didn’t agree with the assessment.