S&P: Star Cruises, NCL on negative watch

Standard & Poor's said it placed on CreditWatch with negative implications the BB- long-term corporate credit ratings on Star Cruises Ltd., along with NCL Corp. Ltd.'s BB- long-term corporate credit ratings and B foreign-currency rating on its senior unsecured $250 million notes due 2014.

The placement follows a similar action on Genting Bhd. and reflects the potential weakening of group support from Genting, given that the company's financial profile could be weakened by debt it plans to undertake for the development of the Sentosa integrated resort, S&P said.

The resolution of the CreditWatch will follow that of Genting, which depends on confirmation of its capital structure and debt-equity mix for the investment in the integrated resort project, the agency said.

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