Tuesday, June 23, 2020

CCL stock: Carnival Becomes Latest Fallen Angel While Covid Halts Cruises

Here is the article.

S&P slashed the company’s long-term rating by three levels to BB-, from BBB-, saying the cruise line’s credit metrics are likely “to remain very weak through at least 2021” as it begins to slowly resume its operations. The cut from S&P hands the company a second high-yield credit rating, meaning its debt will leave investment-grade credit indexes.




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