Last Updated January 25, 2008
Noble Group is now rated as investment grade by Fitch Ratings service.
It has assigned a long-term issuer rating of BBB- and similar rating to the group's US$700mn senior unsecured notes.
The rating is to reflect "Noble's robust revenue and profit generation”, whereby revenues and gross profits have risen at growth rates of 51% and 47% over the past five years.
Richard Elman, Noble's founder and CEO comments: "We believe our business strategy, improving financial results, conservative balance sheet, and strong market position, is now recognised as achieving an investment grade profile. We are determined to continue to build a strong international franchise across our business segments which will ensure long term sustainable earnings. "
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