TEXT-Fitch comments on Noble Corp

(The following statement was released by the rating agency)

Dec 23 - Noble Corporation's (Noble; NYSE: NE) recently announced
redomestication from the Cayman Islands to Switzerland is not likely to
adversely affect ratings for the company, according to Fitch Ratings.

On Dec. 19, 2008, Noble announced plans to move the place of incorporation
of its group holding company from the Cayman Islands to Switzerland. The
proposed transaction may be deemed an event of default in Noble's $600 million
senior unsecured credit facility.

As a result, Noble is expected to seek waivers from lenders prior to
implementation of the proposed transaction.

As of Nov. 30, 2008, there were no outstanding borrowings under the credit
facility. As currently proposed, Fitch expects the company to receive waivers
from its lenders, and does not anticipate changes to the company's ratings as a
result of the announcement.

Fitch currently rates Noble as follows:

--IDR 'A-'; --Senior unsecured 'A-';

--Senior unsecured bank facility 'A-'.

The Rating Outlook is Stable.