Moody's affirms Noble

Moody's Investors Service said it affirmed the Ba1 corporate family rating and senior unsecured bond rating of Noble Group Ltd with a stable outlook.

The agency said this rating action follows Noble's announcement that it had suspended two traders in the company's aluminum operations for misbehavior and Noble reported that losses were discovered pertaining to misreported sales and purchase contracts.

The rating affirmation reflects Moody's understanding that the gross amount involved is not material in the context of Noble's cash position and balance sheet and hence does not put pressure on the current rating.

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