Noble Group Faces Liquidity Woes, Bonds Slump on Rating Fear
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Concern is mounting that shrinking liquidity at Noble Group Ltd. is edging Asia’s largest commodity trader closer to losing its investment-grade credit rating, as its bonds fall to the lowest in three years.
On Monday, Noble’s Chief Executive Officer Yusuf Alireza said the company’s seen some counterparties trim credit lines. While Alireza said he expects the situation to normalize later this year, on Wednesday Moody’s Investors Services cut its outlook on the firm’s Baa3 score to negative.