Moody's May Upgrade Royal Caribbean

Friday, November 19, 1999
Moody's Investors Service placed the long term debt ratings of Royal Caribbean Cruises Ltd. on review for possible upgrade based on its improved debt protection measures, and the steady growth in earnings and cash flow as well as its reduced need for debt to fund capital expenditures following its equity issuance. Moody's review will focus on the impact of Royal's extensive ship building program on debt protection measures, the company's earnings vulnerability to an economic downturn and its sensitivity to changes in consumer spending on cruise vacations. Moody's also rated the company's $1.0 billion multiple shelf registration at (P) Baa3 and (P) "ba2" for senior unsecured debt and preferred stock respectively, and simultaneously placed these ratings on review for a possible upgrade. Ratings placed under review for possible upgrade are: Senior unsecured shelf registration at (P) Baa3. Senior unsecured debt at Baa3. Senior subordinated notes at Ba2. Preferred stock shelf registration at (P) "ba2" Preferred stock at "ba2" Ratings assigned and put on review for possible upgrade are: Senior unsecured multiple shelf registration at (P) Baa3. Preferred stock shelf registration at "ba2." Royal Caribbean Cruises, Ltd. is headquartered in Miami, Florida, and operates 17 cruise ships in the premium and contemporary market segments under the brand names, Celebrity Cruises and Royal Caribbean International, respectively. At year end 1998, the company had revenues of $2.6 billion.

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter May 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Shipbuilding

Tech & Design Solutions for Modern Workboats

EPA Tier 4 regulations (for engines of 804 hp and higher) and propulsion advancements have many manufacturers and vessel designers changing course to adapt to new requirements and customer demands.

Seaspan Responds to Canada’s NSS Announcement

In response to the Government of Canada’s announcement of a series of enhancements to strengthen the National Shipbuilding Strategy, Seaspan Shipyards’ president

Raytheon Anschütz Selected as INS Provider for Canada’s OFSV

Raytheon Anschütz Selected as INS Provider for Canada’s OFSV   Thales, a major system integrator in Canada, has chosen Raytheon Anschütz as the supplier of the

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Pod Propulsion Port Authority Salvage Ship Electronics Ship Repair Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0637 sec (16 req/sec)