Moody's revises Royal Caribbean view to stable

Moody's Investors Service said it changed the outlook of Royal Caribbean Cruises, Ltd. to stable from positive and affirmed its existing ratings.

This action follows the company's announcement that it reached an agreement to acquire Pullmantur SA, a leading private Spanish cruise operator, for total consideration of €700 million, which includes assumption of Pullmantur debt.

Moody's said the outlook change reflects the impact of the debt-financed acquisition, moderating operating environment and a large committed capital-spending program over the next several years.

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