* Noble says operating environment remains challenging
* Takes adjustments on valuation of commodity contracts
* Reduces Q3 net debt by $112 mln to $3.7 bln
* Reports 9-mth loss of $3 bln (Adds details of results, comments)
HONG KONG/SINGAPORE, Nov 9 (Reuters) - Noble Group reported a third-quarter loss of $1.17 billion, hit by charges from losses on the disposals of some of its businesses, and said the operating environment remains challenging. The Singapore-listed company, once among the world's biggest traders, is shrinking to an Asian-centric firm focused mainly on coal and LNG, after slashing jobs and selling assets to cut debt and end two years of crisis.
"Further additional non-cash valuation adjustments may be recorded going forward following the execution of the actions determined under the strategic review, in particular with regard to further asset disposals," the embattled company said in a statement on Thursday.
Last month, the company said it would get about $580 million for the sale of its Americas-focused oil trading business and smaller gas and power unit. It also flagged a total net loss of $1.1 billion to $1.25 billion for its third quarter.
Noble reported a net loss of $1.17 billion for July-September compared with a loss of $28 million reported a year earlier. Adjusted net loss from continuing operations was $93.8 million versus a profit of $11.5 million a year ago.
The group's net debt decreased by $112 million to $3.7 billion in the third quarter. But it has risen by $833 million in the year to date.
The focus now is on whether Noble has enough credit lines to run its businesses.
"We would look at the liquidity headroom which shrank in the last quarter. Also, we would like to see its operating cash flow and working capital situation," Danny Huang, analyst at S&P Global which has a CCC-minus rating on Noble, said ahead of the results.
Noble was plunged into crisis in February 2015 when Iceberg Research questioned its accounts, and then it was hit by a commodities downturn.
While Noble stood by its accounts, the crisis triggered a share price collapse, credit downgrades, writedowns, as well as fund-raising and management changes. Its market value has fallen to less than $300 million from $6 billion in February 2015. (Reporting by Umesh Desai and Anshuman Daga; Editing by Stephen Coates and Muralikumar Anantharaman)