Noble's liquidity crunch likely to ease in Q3, says Fitch
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.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Dasin Retail Trust trustee-manager chairman, directors deny allegations of misconduct
Microsoft adds security chiefs to product groups in wake of hacking woes
Singapore shares climb at Friday’s open; STI up 0.2%
A timeline of DBS’ recent banking glitches
Keppel Infrastructure Trust posts 29.1% lower Q1 distributable income
Elite Commercial Reit’s Q1 DPU down 21.2% to £0.0067