S&P rates NCL loans BB+

Standard & Poor's said it assigned NCL Corp. Ltd.'s proposed $1.1 billion senior secured credit facilities its BB+ issue-level rating with a recovery rating of 1.

NCL plans to use the proceeds to repay outstanding amounts under existing credit facilities.

All other ratings on the company, including the BB- corporate credit rating, are unchanged.

The BB- corporate credit rating on NCL reflects S&P's assessment of the company's financial risk profile as "aggressive" and its assessment of its business risk profile as "fair," according to the criteria.

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