S&P downgrades Noble Group's rating further into junk, outlook negative

Ratings agency Standard and Poor's cut Singapore-listed Noble Group's credit rating further into junk territory on Friday and described its outlook as negative. S&P said it had cut Noble's long-term corporate rating to BB- from BB+. Noble swung to a net loss of $1.67 billion in 2015, its first annual loss in nearly 20 years, battered by a $1.2 billion writedown on weak coal prices.