Luxus Holdings News

Northern Irish shipyard Harland and Wolff has won a provisional order worth more than $350 million to build two luxury cruise liners, company officials said. The shipyard, which earlier this month secured its future with a $450 million order for four passenger ferries, said it had been awarded a letter of intent by cruise line Luxus Holdings. The 28,000 ton ships will carry 380 passengers and measure more than 656 ft. (200 m), officials said. Luxus said the ships were designed to mimic the standards of a large luxury yacht. The order follows news that Northern Ireland's largest manufacturing sector employer, Bombardier Aerospace, plans to create 1,200 new jobs over the next two years at its Belfast-based aerospace unit Short Brothers Plc.

Moody's Investors Service downgraded to Ca from Caa2 the rating for the Euro 125 million senior notes of Cammell Laird Holdings plc (CLH) following the company's announcement of a strategic review of its operations and financial structure which may lead to a restructuring of the notes. The following ratings were downgraded: CLH's senior implied rating to Caa2 from B3, the rating of a GBP 50 million secured revolving credit facility to Caa2 from B3, CLH's issuer rating to Ca from Caa2 and the bond rating to Ca from Caa2. The ratings remain under review for possible further downgrade. The downgrade reflects Moody's concern that CLH's financial…