Fitch rates Noble notes BBB-

Fitch Ratings said it assigned a final rating of BBB- to Noble Group's $400 million notes issued under its medium-term program.

The final rating follows the receipt of documents conforming to information already received and is in line with the expected rating assigned March 13, Fitch said.

The notes are rated at the same level as Noble's issuer default rating as they represent direct, unconditional, unsecured and unsubordinated obligations of the company, the agency said.

The ratings are supported by Noble's deleveraging efforts, sound financial policy and prudent risk management, Fitch said.

The ratings are constrained by a challenging commodity market that puts pressure on the company's operating performance, the agency said.

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