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S&P may lower Noble Group
Standard & Poor's said it placed the BBB- long-term corporate credit rating on Noble Group Ltd. and the BBB- rating on the company's senior notes on CreditWatch with negative implications.
The action reflects the view that Noble's financial strength has weakened after a major acquisition, according to the agency.
The company's profitability trend has weakened due to heightened volatility in the commodities market. The company's cash flow and leverage have breached levels considered weak for the current rating, the agency said.
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