<article>Fitch Ratings affirmed Noble Group&#8217;s BBB-minus rating with a stable outlook on Thursday, remaining the only agency to assign the coveted investment-grade rating on Asia&#8217;s biggest commodities trader.</article>

Fitch Ratings affirmed Noble Group&#8217;s BBB-minus rating with a stable outlook on Thursday, remaining the only agency to assign the coveted investment-grade rating on Asia&#8217;s biggest commodities trader.
The decision followed Noble&#8216;s improved balance sheet and sufficient liquidity position on the back of its stake sale in Noble Agri Limited, its pledge to cut working capital needs for its metals unit, and continued cash flow generation from its operations, Fitch said.
Both S&amp;P and Moody&#8217;s have cut Noble&#8216;s rating to junk, sending its bonds and stocks tumbling. Its stock is trading at the lowest since October 2008.
Its credit default swaps contracts trade on an upfront basis and its CDS curve is inverted, an indication investors consider it a stressed credit.
Noble Group, already under pressure in a weak commodities market, came under the spotlight last February when blogger Iceberg Research alleged the company was inflating its assets by billions of dollars by not fairly representing the value of its commodity contracts. The company has rejected the claims.
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<a style="color: #ff0000;" title="Singapore: Noble Group stock, bonds crash to 7-year low as S&amp;P cuts it rating to junk" href="http://www.dealstreetasia.com/stories/singapore-noble-group-stock-bonds-crash-to-7-year-low-as-sp-cuts-it-rating-to-junk-26261/" rel="bookmark">Singapore: Noble Group stock, bonds crash to 7-year low as S&amp;P cuts it rating to junk</a>
<a style="color: #ff0000;" title="After Moody’s, S&amp;P’s too follows with junk rating status to Noble Group" href="http://www.dealstreetasia.com/stories/sp-cuts-noble-group-rating-to-junk-cites-liquidity-concerns-26117/" rel="bookmark">After Moody’s, S&amp;P’s too follows with junk rating status to Noble Group</a>
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<h4>Reuters</h4>

Fitch Ratings affirmed Noble Group's BBB-minus rating with a stable outlook, the only agency to assign the coveted investment-grade rating on the commodities trader.

Fitch sole agency to give investment grade rating to Noble Group

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Fitch sole agency to give investment grade rating to Noble Group

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