|Bid||0.0000 x 2200|
|Ask||0.0000 x 1200|
|Day's Range||0.2000 - 0.2375|
|52 Week Range||0.1200 - 2.1500|
|Beta (5Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Earnings Date||Aug 05, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||0.41|
Moody's Investors Service (Moody's) downgraded Noble Holding International Limited's (Noble) Probability of Default Rating (PDR) to D-PD from Caa2-PD, Corporate Family Rating (CFR) to Ca from Caa2, senior unsecured notes rating to C from Caa3, senior guaranteed notes due 2026 rating to Caa3 from Caa1 and Speculative Grade Liquidity Rating to SGL-4 from SGL-3. Moody's will withdraw all ratings for the company in the near future. Noble is an indirect wholly owned subsidiary of Noble Corporation plc, a publicly traded offshore drilling company.
The offshore driller (not to be confused with oil and gas producer Noble Energy, which Chevron recently agreed to acquire) has entered into a restructuring support agreement with two groups consisting of its largest bondholders. Noble will use the bankruptcy process to enable bondholders to exchange their bond holdings for equity in the reorganized company. In addition to that debt exchange, bondholders have also agreed to invest an additional $200 million into the company via new second-lien notes.
Noble Corp. filed a Chapter 11 bankruptcy petition, including a plan to erase the offshore drilling contractor's $3.4 billion bond debt via a swap for new equity.