Moody’s eyes Royal Caribbean for trim

Moody’s Investors Service said it placed the ratings of Royal Caribbean Cruises Ltd. and Silversea Cruise Finance Ltd., on review for downgrade. The ratings include the B1 corporate family rating, B1-PD probability of default rating, Ba2 senior secured rating and B2 senior unsecured rating. The SGL-2 speculative grade liquidity rating is unchanged at this time.

“The review for downgrade will focus on the timeline for the company to return to service, the potential to ramp up operations in a meaningful way in 2021 and the resulting impact to its liquidity,” said Pete Trombetta, Moody’s lodging and cruise analyst, in a press release.

The agency noted it does not expect U.S. cruise operations to resume until there are indications the coronavirus spread is slowing.

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