Moody's revises NCL outlook to stable

Moody's Investors Service said it revised the outlook for NCL Corp. Ltd. to stable from negative. At the same time, the agency affirmed NCL's ratings, including its corporate family rating at B2, probability of default rating at B2-PD, senior secured notes and senior secured bank credit facility ratings at B1 and senior unsecured ratings at Caa1. The company's speculative grade liquidity rating of SGL-3 remains unchanged.

"The revision of NCL's outlook to stable reflects the improved operating environment which will enable NCL to generate EBITDA exceeding that of 2019 with debt/EBITDA returning to a sustainable level over the next year," stated Pete Trombetta, a Moody's vice president and senior analyst, in a press release.

Moody's said it sees NCL's EBITDA improvement climbing to above 2019 levels in 2024 with debt/EBITDA nearing 7x with all metrics including the agency’s standard adjustments.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.