S&P rates Carnival notes BBB+

Standard & Poor's said it assigned a BBB+ rating to Carnival Corp.'s proposed $500 million notes due 2017.

The proceeds will be used for general corporate purposes.

The company's other ratings are unchanged and the outlook is stable.

The ratings reflect Carnival's strong business risk profile and intermediate financial risk profile, S&P said.

The ratings also consider its position as the largest cruise operator in the world with a global market share of about 50%, a solid operating track record and an experienced management team, the agency said.

The capital-intensive nature of the cruise industry, the travel and leisure sector's sensitivity to economic cycles and long lead times for new ships somewhat temper these factors, S&P said.

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