Moody's rates Royal Caribbean notes Ba1

Moody's Investors Service said it assigned a Ba1 rating to Royal Caribbean Cruises Ltd.'s proposed $500 million senior unsecured note offering and affirmed the company's Ba1 corporate family rating.

Moody's also assigned a provisional Ba1 and provisional Ba2 rating to the company's senior unsecured and preferred debt shelf.

The company's SGL-2 rating remains unchanged.

Moody's said the assignment and affirmation reflects the company's ability to withstand industry pricing pressure in 2012 and its expectation of higher earnings and absolute debt reduction in 2013.

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