Moody's rates Noble Group notes Baa3

Moody's Investors Service said it assigned a provisional Baa3 rating to Noble Group Ltd.'s $3 billion medium-term note program.

At the same time, Moody's assigned a Baa3 senior unsecured rating to the subsequent proposed issuance from the program.

The notes rank pari passu with Noble Group's other senior unsecured obligations.

The outlook is stable.

"We expect that proceeds will be deployed for debt refinancing purposes as such the transaction will be leverage neutral," Moody's senior vice president Laura Acres said in a news release.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.