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 February 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Shipbuilding

Damen Begins Construction of Second Facility at Antalya Shipyard

Damen Shipyards has refurbished a second 12,000 square meter shed at its Antalya, Turkey shipyard for the production of the Damen Fast Crew Supplier 5009, the company announced today.

E-marine Begins Fleet Expansion

E-marine, a provider of submarine cable installation and repair solutions in the Middle East and Sub-Continent region, has unveiled plans to expand its fleet of cable ships in 2015,

VT Halter Launches ATB Tug for Bouchard

VT Halter Marine launched ATB tug Kim M. Bouchard for Bouchard Transportation at Moss Point Marine facility on February 26, 2015. Measuring 150 feet long, the 10,

 
 
Naval Architecture Navigation Pipelines Pod Propulsion Port Authority Salvage Ship Electronics Ship Repair 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: 0.1662 sec (6 req/sec)