An improving market outlook and a stronger financial position have contributed to Moody's Investors Service upgrading its rating for Royal Caribbean.
The agency has boosted the cruise company’s senior unsecured rating to Baa2 from Baa3 and assigned a P-2 rating to the company's planned $1.15 billion commercial paper programme.
Pete Trombetta, Moody's lead lodging and cruise analyst, says the change comes amid expectations for strong booking trends, increased onboard spending and the arrival of new ships.
Trombetta adds the company's improved liquidity position at a time it has $700m outstanding under two revolving credit lines.
