(Bloomberg) — Carnival Corp. is the latest cruise line to lose its investment-grade credit ratings after S&P Global Ratings downgraded the company Tuesday.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.Moody’s Investors Service cut the company to junk in May. In a statement Tuesday, it downgraded Carnival’s unsecured credit ratings by one …read more
Source:: Yahoo Finance
