RAM Ratings revised the outlook on Noble Group Ltd’s long-term rating to negative from stable as its profits could stay subdued over the next one to two years.
It said on Friday the AA2 rating of the group’s RM3bil multi-currency Sukuk Murabahah programme (2012/2032) had been reaffirmed.
“The negative outlook reflects the pressure on Noble’s credit profile,” it said.
RAM Ratings said Noble Group’s profits could stay subdued over the next one to two years amid the poor fundamentals of its key traded products, while increased working capital may continue to strain credit metrics.
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It said on Friday the AA2 rating of the group’s RM3bil multi-currency Sukuk Murabahah programme (2012/2032) had been reaffirmed.
“The negative outlook reflects the pressure on Noble’s credit profile,” it said.
RAM Ratings said Noble Group’s profits could stay subdued over the next one to two years amid the poor fundamentals of its key traded products, while increased working capital may continue to strain credit metrics.
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