Noble Group’s FVE at SGD 0.66 Assuming Refinancing Cap of USD 1.2 Billion
We’ve cut our assumptions on Noble Group’s ability to refinance its debt following the recent downgrade by Standard and Poor’s on its rating. We now cap the company’s refinancing at USD 1.2 billion going forth in our base-case assumption and as a result, we think the company will have no choice but to reduce the quantum of physical trades. This means we think the company will make slightly higher net losses of USD 418 million and USD 92 million in 2017 and 2018, respectively, but a return to sli...NOBLE GROUP HOLDINGS LIMITED is an investment holding company principally engaged in the provision of energy products and industrial raw materials supply chain management. Together with subsidiaries, the Company operates business of global supply chain manager of energy, power and gas products, metals and carbon steel materials. The Company also engages in the bauxite mining and alumina refining operation in Jamaica.
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