Moody’s lifts Silversea Cruise debt

Moody's Investors Service said it upgraded the senior secured rating of Silversea Cruise Finance Ltd. to Baa2 from B2.

At the same time, Moody's withdrew Silversea's B2 corporate family rating and its B3-PD probability of default rating.

“The upgrade follows the announcement that Royal Caribbean Cruises Ltd. (RCL, Baa2 stable) will guarantee Silversea's $620 million senior secured notes due 2025,” the agency said in a news release.

“RCL acquired a 67% stake in Silversea on July 31, 2018. The corporate family rating and PDR of Silversea are being withdrawn as the financial results of the company will be consolidated with RCL's results.”

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