Poorer debt outlook adds to Noble's woes
Moody's analyst says downgrade is due to commodities group's higher leverage and lower interest coverage
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CONCERN is rising over Noble Group's liquidity position and strategic options going forward, as the impact of its woes spreads from its shares to its bonds.
This comes as credit rating agency Moody's on Wednesday downgraded its outlook for the trading house's debt on Wednesday. It warned that Noble's current Baa3 rating - the lowest investment grade score - could be lowered if it does not improve its liquidity position over the next two quarters, or if its gearing level continues to rise.
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