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 Reporter October 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Shipbuilding

World’s First LNG-Ready Ultra Large Container Ship Named

The race is on in global maritime circles to be the “world’s first” in every aspect of environmental friendliness, particularly in regards to the incorporation of LNG as fuel onboard commercial ships.

Wärtsilä Integrated Solutions for Maersk's AHTS Vessels

A new series of six Anchor Handling Tug Supply vessels to be built at the Kleven Verft AS in Norway for the Danish based Maersk Supply Service A/S - part of the A.

MacGregor Deck Equipment for Intership's Eco-bulkers

MacGregor, part of Cargotec, has secured a deck equipment contract from New Times Shipyard in China for Intership Navigation Co Ltd.'s three new 36,500 dwt laker-class bulk carriers.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Navigation Port Authority Salvage Ship Electronics Ship Simulators Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | terms and conditions | 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: 0.1452 sec (7 req/sec)