Noble

Ouch looks bad
Thanks bro zuolun for update
Will monitor

Noble Group downgraded to junk status by Standard & Poor’s ~ 7 jan 2016

While based in Asia, Noble has a growing North American oil business and is a major European zinc trader. But some of Noble’s operations have struggled to consistently generate cash, and the company has accumulated net debt of $4.2bn — more than 2.5 times its market value, or 3.6 times its earnings before interest, tax, depreciation and amortisation, according to Moody’s.

Trader strives to preserve investment grade rating by raising $500m from investors or asset sale

In addition to long-term debt, S&P said Noble had about $360m in bonds maturing in the coming months as well as $2.2bn of short-term credit facilities to renew in May.

Fitch affirms Noble Group at 'BBB-'; outlook stable ~ 13 Jan 2016

Noble ~ Bearish Bollinger Bands breakout, interim TP S$0.195

Noble had a spinning top and traded @ S$0.295 (+0.015, +5.4%) with 65.4m shares done on 22 Jan 2016 at 1625 hrs.

Immediate support @ S$0.265 immediate resistance @ S$0.315.



Why I exited Noble Group last year ~ 15 May 2015

Lesson learned

Fortunately I did not lose any money on Noble Group. Had I been less patient and sold earlier I would have nearly doubled my money on this investment. Unfortunately I succumbed to hoping, praying and wishing for things to improve. What I should have done was to sell out much earlier when it became clear that the company performance was deteriorating.

Iceberg Research to write 4th report on Noble Group Jan 27, 20163:36 PM ICEBERG Research, the little known group that raised questions on Noble Group's accounting practices a year ago, is preparing a fourth report on the commodity trader. It did not state when the report is expected to be published, but in a post on its website announcing this, said most of its earlier arguments are already recognised by the markets. These include a target price of 10 Singapore cents for the group, which Iceberg said is "partially validated" and that Noble's investment grade rating "has always been an anomaly" which will be corrected. Noble's ratings at Standard & Poor's and Moody's have been cut to junk, while Fitch has reaffirmed its investment grade status. Iceberg noted that its claim of Noble overstating at least US$3.8 billion in fair values has not yet been validated, but has "absolutely no doubt" that this - the most important remaining argument in its view - will be "recognised as fact as well". Noble declined to comment on the matter. The commodity trader will be holding a special general meeting on Thursday to seek shareholders' approval for the sale of its remaining 49 per cent in Noble Agri to Cofco International. The counter was trading at 28.5 cents at 3.26pm, up 3.6 per cent from its previous close.

Franklin Resources, Inc. buy 2.5m shares @ 28.5cts
their interest increase from 4.99% to 5.03%