OngHuatHuat
High Supremacy Member
- Joined
- Jul 10, 2006
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When I read that, I was like... why is bbb- to bb+ a downgrade then I notice 1 lesser B...
Why they can't use numbers instead of this complicated AAA, BBB, CCC thing...
Different rating firm have different rating system.
+ means stable in that category. Anyway, noble needs to work extremely hard now to win back investors' confidence.
Q1 result more or less the same as what i have expected, but i din expect the decrease in profit due to working capital constraint(they need to hold more cash as a requirement for the refinancing deal).
Someone here mentioned about the increase in interest rate on refinancing deal, I think this is the common trend for all the loans now. Furthermore, noble is using a combination of long term and short term financing instrument to cover their cash requirement.
Long term debt means the 2020 bond and 2018 bond issued by Noble.
And for your information, despite multiple downgrades(except for the first downgrade, the first downgrade had impact) from credit rating firms, noble bond has only one direction, which is only up.
My only conclusion is that it is much easier to bet on noble non bankruptcy than Noble profit turn around.
That feeling sucks, coz I intend to buy Noble bond since last 2 months.
And my noble holding decreased in value.