The stable rating outlook reflects S&P's expectation that cruise demand and pricing will allow Royal Caribbean to grow net yields across its portfolio of brands, credit analyst Melissa Long said.
In addition, S&P believes RCL management's financial policy is aligned with the company's goal of sustaining leverage—total adjusted debt to EBITDA—in a range of 3x to 3.5x.
The S&P rating closely follows Moody's Investors Service upgrade of RCL to investment grade.
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