Troubled Noble Group struggling to repair once-lauded reputation

Singapore-listed commodities giant Noble Group is still yet to recover from their share price plummeting by 70% this year following a series of damaging incidents for the business.

The company is struggling to instil confidence in investors despite agreeing upon an 11th hour deal to extend a $2bn credit facility.

The company, which has been facing a downturn in the commodities market and rising debts, refused to comment on the credit extension.

The news follows Standard and Poor’s reducing its long term credit rating for the company and warning that weak liquidity meant that Noble would not be able to pay off their substantial debts this year.

Noble’s role as a major Yancoal shareholder in the proposed buyout of Rio Tinto’s Hunter Valley coal assets has also fallen under scrutiny, with questions being raised about whether or not they would be able to contribute to Yancoal’s fund raising efforts.

Noble’s situation is certainly precarious, as exemplified by reports that key staff are being offered all-cash payouts if they agree to remain at the firm until early December.