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S&P upgrades Royal Caribbean
Standard & Poor's said it raised its corporate credit rating on Royal Caribbean Cruises Ltd. to BB+ from BB.
The outlook is stable.
At the same time, the agency raised all issue-level ratings one notch in conjunction with the upgrade of the company.
"The upgrade reflects our view that fundamental improvement in operating performance will allow Royal to reduce total lease and port commitment adjusted EBITDA to near 4.0x and increase funds from operations (FFO) to debt to near 20% by the end of 2015," S&P credit analyst Melissa Long said in a news release.
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