S&P lifts Lindblad view to stable

S&P said it changed its outlook for Lindblad Expeditions Holdings Inc. to stable from negative and affirmed all ratings, including its B- issuer rating.

“We revised the rating outlook to stable because Lindblad's forward bookings support significant credit measure improvement in 2023. Lindblad has indicated that it has booked a similar percentage of potential revenue for 2023 compared to the same time in 2019, despite a 39% increase in capacity, which includes the delivery of the National Geographic Endurance in March 2020 and the National Geographic Resolution in 2021,” the agency said in a press release.

S&P warned that if the economy falls into a shallow recession, it could hurt Lindblad’s recovery.

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