S&P and Moody's cut Noble's rating, warn of risk of default

London

NOBLE Group Ltd may default on its debt in as soon as the next six months, said S&P Global Ratings and Moody's Investors Service, which again cut their scores on the commodity trader and warned that planned asset sales may be insufficient to cover obligations.

The ratings were cut two notches by S&P and Moody's late on Monday, pulling them deeper into junk territory and closer to the likelihood of default.