Noble Group shares fall after S&P rating downgrade
SINGAPORE (Reuters) - Noble Group shares fell more than 2 percent on Thursday after Standard & Poor's cut the Singapore-based commodity trader's credit rating deeper into junk territory, to B+ from BB-, and assigned a negative outlook.
The shares fell to as low as S$0.225.
Noble's bonds due 2020 were down an eighth of a point at 80.88/81.75 cents on the dollar.
The company's troubles started more than a year ago when its accounts were questioned by a blogger, sparking a dramatic collapse in its share price. Rating downgrades forced Noble to sell some of its key assets to allay financing worries and weather the commodities downturn.
(Reporting by Marius Zaharia and Umesh Desai; Editing by Kenneth Maxwell)
