Royal Caribbean Sheds Junk Status After Moody's Upgrades Credit
Royal Caribbean Cruises Ltd. regained its investment-grade status on Monday after Moody's Ratings upgraded the global cruise operator's credit rating on a strong demand outlook and better credit metrics.
Moody's upgraded the cruise line one notch to Baa3, its lowest high-grade rating, from Ba1, its highest junk grade, according to a Monday statement. The action follows a similar move from S&P Global Ratings, which in February elevated Royal Caribbean to its lowest rung of investment-grade status.
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