Noble rated investment grade

Singapore-Noble Group Ltd. reported Jan. 17 that it has been rated investment grade by Fitch Ratings service. Fitch assigned a long-term issuer rating of BBB- and a similar rating to the Group’s $700 million senior unsecured notes. The rating cited “Noble’s robust revenue and profit generation,” whereby revenues and gross profits have risen “at cumulative growth rates of 51 percent and 47 percent over the past 5 3/4 years.” In addition, the ratings opinion noted Noble’s “execution of its ‘pipelines’ strategy, in which the company owns and/or operates businesses at various stages of the product supply chains as underpinning the growth of its business franchise.” The credit opinion also noted, “Noble’s diversity of products and markets/sectors, geographic diversity in terms of revenue generation, and leading market position in its key commodity products have helped to reduce its exposure to commodity price cyclicality.” Noble manages a diversified portfolio of raw materials from over 80 offices in more than 40 countries. A team of 10,000 people serves approximately 4,000 customers. With Q3 07 revenues reaching US$15.7 billion, Noble continues its transition to owning and managing more fixed assets, sourcing from low-cost producers such as Brazil, Indonesia, or Australia, and supplying to high growth demand markets, including China, India, and the Middle East. Noble recently appeared on the Forbes Global 2000, received The Asset’s coveted Best 60 in Corporate Governance Award, and was selected to the Forbes Fab 50 and S & P Global Challengers. Noble also received the Corporate Governance Recognition Award: Classes Of 2006 and 2007 by Corporate Governance Asia, was named as one of FinanceAsia’s Best Companies, and earned a spot on the new benchmark Straits Times Index (STI).