• Fitch: Noble's Negative Operating Cash in 2Q15 to Reverse in 2H

  • Fitch Ratings
    Hong Kong, 20 August 2015

    Fitch Ratings says today that Noble Group Limited's (Noble, BBB-/Stable) second-quarter results reflect a stable financial profile, despite an increase in debt due to working capital expansion, which will set the stage for stronger operating cash flow generation in the second half of 2015. The reduction in Noble's available credit facilities fits in with the company's business strategy shift to an asset light model, but weakened support from Noble's major banking partners could result in negative rating action.