Monthly Archives: January 2016

“Rumour and gossip”

Noble Group’s chairman, Mr. Elman, recently declared “Last year, we had to separate our business from rumour and gossip”. In April, our reports were already described as “inaccurate, unreliable and misleading”, and Mr. Elman proclaimed that the “Iceberg issue is finished”. After months of denial and defiant tone, the market does not pay attention anymore. […]

Downgrade of Noble Group to junk by credit agencies

S&P has downgraded Noble Group to junk today, following a similar move by Moody’s. The downgrade validates one of our main arguments against Noble: this company has never been investment grade. In fact, the question is why did it take so long when it was clear that Noble has been bleeding cash for years, and […]