Moody's rates Noble Group bonds Ba1

Moody's Investors Service said it assigned its Ba1 senior implied rating to Noble Group Ltd. At the same time, Moody's assigned its Ba1 rating to the company's proposed $500 million senior unsecured bonds. The outlook is stable.

The bond proceeds will be used to refinance most of the company's secured debts, as well as for general corporate purposes.

Moody's said the Ba1 rating reflects that management demonstrates extensive industry knowledge and experience together with the ability to identify market opportunities for strong profit growth, a degree of product and geographic diversification counter industry cyclicality and difficulties in any single market, the management team shows appreciation of risk and its sound projected financial profiles in the next two years.

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