S&P lowers Oceania Cruises outlook to stable

Standard & Poor's said it revised its outlook on Oceania Cruises Inc. to stable from positive.

At the same time, S&P said it affirmed its ratings on Oceania, including the B corporate credit rating.

The outlook revision and ratings affirmation follow the announcement by Apollo Management LP that it has agreed to acquire the Regent Seven Seas Cruises operations from Carlson, the agency said.

While terms of the acquisition have not been publicly disclosed, it has been announced that Regent Seven Seas Cruises and Oceania Cruises will be placed under the ownership of Prestige Cruise Holdings Inc., a corporation controlled by Apollo and that they will be maintained as two independent brands, S&P noted.

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