S&P, Fitch differ on Noble ratings

Singapore

NOBLE Group continues to be burdened by ratings from credit agencies on Thursday, just a week after Moody's Investors Service cut the rating of Asia's biggest commodity trader to junk status.

Standard & Poor's cut its investment credit rating on Noble to junk as well on Thursday, lowering its long-term corporate credit rating on the Hong Kong-based company to "BB+" from "BBB-". S&P said: "The current depressed commodities markets and heightened risk aversion by lenders could complicate the company's fund raising plans for the next few months."