Standard and Poor's warned on Tuesday it may cut Noble Group's credit ratings, which would take the ratings to junk status, saying it was worried about the commodities trader's weakened liquidity and leverage positions.
It became the second rating agency to flag a possible drop to junk grade for Noble's corporate debt after Moody's Investors' did so earlier this month.
The company's bonds are currently trading at levels considered junk, quoted in the market in price terms rather than in spread terms usually used for investment grade debt.
Its perpetual bond is trading at around 57 cents on the dollar, down by five points this month, after being issued at par in June last year.
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It became the second rating agency to flag a possible drop to junk grade for Noble's corporate debt after Moody's Investors' did so earlier this month.
The company's bonds are currently trading at levels considered junk, quoted in the market in price terms rather than in spread terms usually used for investment grade debt.
Its perpetual bond is trading at around 57 cents on the dollar, down by five points this month, after being issued at par in June last year.
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