Noble ratings reflect confidence
TRIS Rating has affirmed the company rating of Noble Development Plc at “BBB” and affirmed the ratings of Noble’s senior unsecured debentures at “BBB-”.
At the same time, TRIS Rating has revised the rating outlook of the company to “stable” from “negative”.
“The stable outlook reflects our expectation that Noble’s improved operating performance and financial profile will be sustained over the next two to three years while its leverage will not deteriorate significantly from the current level,” TRIS said. “The ratings take into consideration Noble’s well-accepted brand name in the middle- to high-end segments of the condominium market.”
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