Moody’s eyes Royal Caribbean for trim

Moody’s Investors Service said it placed the ratings of Royal Caribbean Cruises Ltd. on review for downgrade, including its Ba1 corporate family rating, Ba1-PD probability of default rating, Baa3 senior secured rating and Ba2 senior unsecured rating. The company’s speculative grade liquidity rating of SGL-2 is unchanged.

“The review for downgrade will focus on Royal Caribbean’s recovery prospects in 2021 given the recent resurgence of coronavirus cases in certain states increasing the uncertainty around the reopening of the U.S. and the company’s plans for the eventual return to service of its U.S. operations, including what precautions will be put in place when sailings do resume and the associated incremental costs,” said Pete Trombetta, Moody’s lodging and cruise analyst, in a press release.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.