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Noble's credit extension sends shares higher but seen as short-term fix

Reuters  |  HONG KONG/SINGAPORE 

By Umesh Desai and Aradhana AravindanHONG KONG/SINGAPORE (Reuters) - A four-month credit extension for cash-strapped Noble Group Ltd sent the commodity trader's shares up almost 11 percent on Monday, though market watchers cautioned the extension was only temporary respite.The Singapore-listed firm persuaded banks to extend a $2 billion credit line, due to be rolled over by the end of the week, but was asked to find a strategic investor, a person familiar with the matter told Reuters on Friday.Noble declined to comment on the credit line.Investors applauded the news, pushing Noble's stock as ...

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First Published: Mon, June 19 2017. 12:04 IST
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