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Moody's rates Norwegian's $680m private notes offering 'B2'Moody's rates Norwegian's $680m private notes offering 'B2'

Moody's Investors Service rated Norwegian Cruise Line's proposed $680 senior unsecured notes due 2019 at 'B2' or speculative and subject to high credit risk. Proceeds from the private offering will be used to fund the acquisition of Prestige Cruises International.

Anne Kalosh, Editor, Seatrade Cruise News & Senior Associate Editor, Seatrade Cruise Review

November 3, 2014

1 Min Read
Credit: Seatrade Cruise News

Concurrently, the ratings agency affirmed Norwegian's Ba3 corporate family rating, Ba3-PD probability of default rating and SGL-2 speculative grade liquidity rating.

The outlook remains stable. Moody's said that reflects its view that the No. 3 cruise operator is committed to reducing debt to EBITDA after it acquires Prestige, the parent of Oceania Cruises and Regent Seven Seas Cruises. 

About the Author

Anne Kalosh

Editor, Seatrade Cruise News & Senior Associate Editor, Seatrade Cruise Review

Anne Kalosh covers global stories, reporting both breaking and in-depth news on cruising's significant people, places, ships and trends. A sought-after expert on cruising, she has moderated conferences around the world, including the high-profile State of the Industry panel at Seatrade Cruise Global. She created and led the acclaimed itinerary-planning case study for Seatrade's cruise master classes held at Cambridge and Oxford universities. She has been the cruise columnist for AFAR.com, and her freelance stories have appeared in a wide range of publications, from The New York Times to The Miami Herald.

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