Noble Group Hit by `Loss of Confidence' as Ratings Cut Again
- S&P, Moody’s cut company ratings further into junk territory
- Planned sales may hurt ability to generate profit, cash flow
Embattled commodities trader Noble Group posted a first-half loss of $1.9B. It's also seen net debt surge by almost a billion dollars. Bloomberg's James Poole reports on 'Bloomberg Markets: Asia.' (Source: Bloomberg)
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Noble Group Ltd. may default on its debt as soon as the next six months, according to S&P Global Ratings and Moody’s Investors Service, which again cut their scores on the commodity trader while warning that planned asset sales may be insufficient to cover obligations.