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Noble Group says discussions with strategic parties ongoing
May 24, 2017 / 4:52 AM / 7 months ago

Noble Group says discussions with strategic parties ongoing

SINGAPORE (Reuters) - Embattled commodity trader Noble Group Ltd said on Wednesday that discussions with various potential strategic parties are ongoing, seeking to regain market confidence.

FILE PHOTO: A Noble Group sign is pictured at a meet-the-investors event in Singapore August 17, 2015. REUTERS/Edgar Su/File Photo

S&P this week slashed Noble’s corporate credit ratings by three notches deeper into junk territory and warned that it might not be able to pay its debt.

Citing sources, Reuters also reported on Monday that China’s state-owned Sinochem is no longer pursuing an investment in Noble due to concerns over its finances and business outlook.

“The company has previously announced it is in talks with various potential strategic parties... Such discussions are ongoing,” Noble said in a filing.

Reporting by Miyoung Kim; Editing by Edwina Gibbs

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