Moody's shifts Royal Caribbean view to negative

Moody's Investors Service said it changed the outlooks of Royal Caribbean Cruises Ltd. and Silversea Cruise Finance Ltd., together Royal Caribbean, to negative from under review.

The agency concurrently confirmed the ratings, including its B1 corporate family rating, B1-PD probability of default rating, Ba2 senior secured rating and B2 senior unsecured and senior unsecured guaranteed rating. The company's speculative grade liquidity rating of SGL-2 is unchanged.

These actions conclude the review started on Feb. 10, the agency said.

“The negative outlook reflects Royal Caribbean's weak credit metrics, the continued uncertainty around the resumption of U.S. cruise operations and the pace and level of recovery in demand that will enable the company to reduce its leverage,” Moody’s said in a press release.

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