“Noble’s current capital structure is not sustainable,” said Annisa Lee, head of Asia ex-Japan flow credit analysis at Nomura International (Hong Kong) Ltd.
“It is still my base case that it will have to go for restructuring or liquidation eventually.”
The company is fighting for survival more than two years into a crisis punctuated by accounting criticisms and a collapse in its securities. It reported a US$1.75 billion loss for the second quarter on Thursday and announced that it would retreat to its Asian r…
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