Noble shares fall after rating cut

Singapore

NOBLE Group shares fell as much as 4 per cent on Thursday after Standard & Poor's cut the Singapore-based commodity trader's credit rating deeper into junk territory, to B+ from BB-, and assigned a negative outlook.

The shares fell to as low as S$0.22, before closing at S$0.225, down half a cent or 2.2 per cent. Noble's bonds due 2020 were down an eighth of a point at 80.88/81.75 cents on the dollar.