SINGAPORE (July 3): Shares in Noble Group tumbled on June 27, after Fitch Ratings cut the embattled commodities supplier’s credit rating once again and signalled a possible default. The counter fell 4.7% in intraday trading before closing at 50.5 cents. Fitch slashed Noble’s credit rating late on June 23, its third downgrade since mid-May, as uncertainty continues to mount over Noble’s profitability and ability to meet its debt obligations. Fitch said it had downgraded Noble’s long-term foreign-currency issuer default rating to “CCC” from “B-”. Noble’s senior unsecured rating and the ratings on its entire outstanding senior unsecured notes were also downgraded to “CCC” from “B-”, the agency said in a statement accompanying the downgrade.

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