Noble's liquidity crunch likely to ease in Q3, says Fitch
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Singapore
A LIQUIDITY crunch at Noble Group Ltd may prove to be temporary, according to Fitch Ratings Ltd, which said that the Singapore-listed commodity trader will probably generate about US$900 million in the coming months including proceeds from a recent rights issue.
Liquidity will improve as Noble Group gets US$500 million from the rights issue and the rest from working capital reductions, Fitch Ratings said in a statement on Monday. The crunch of the second quarter won't persist and Noble Group will have sufficient liquidity in this quarter, it said.
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