Noble's bonds trade 'as if downgraded'
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Singapore
NOBLE Group, Asia's biggest commodities house, is being punished by traders as it faces record bond maturities and closer scrutiny of earnings amid a global resources rout.
US dollar-denominated notes of the company, which has the lowest investment grade scores from the three main rating companies, yield more than 400 basis points above Treasuries. That compares with the 317 average for top junk-rated Asian borrowers, Bank of America Merrill Lynch indexes show.
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