Moody's, Fitch maintain junk rating for Noble's proposed US$ bonds

Singapore

CREDIT rating agency Moody's has kept its junk bond rating for Noble Group's proposed new bonds, warning that the rating could be downgraded if the firm's cashflow from operations remains consistently weak and liquidity deteriorates further.

Fitch Ratings also maintained its BB+ junk bond rating for the proposed notes.

Noble plans to issue US dollar-denominated bonds for refinancing and general corporate purposes, Bloomberg reported on Monday quoting unnamed sources. Th…