Carnival cut to junk rating at S&P

[BlerkOne]

Just now, Honolulu Blue said:

 

So this is what they're going to use to pay off their near-term loans.  Thanks for sharing.  It looks like the US$ notes will yield 8.5% and the Euro notes will yield 7.5%, plus they're offered at a discount, which will add more yield.  It's a better deal than they got in April.

 

Secured with the same collateral (most of the ships).

[drsel]

Carnival (NYSE:CCL) prices its first-priority senior secured term loan facility, consisting of a $1.86B tranche and a €800M tranche, with a maturity of five years and expected closing date on June 30, 2020.

Thanks. How long will this keep them afloat?
They lost 4.4 billion in 3 months without income

[BlerkOne]

21 minutes ago, drsel said:

Thanks. How long will this keep them afloat?
They lost 4.4 billion in 3 months without income

 

Hopefully the 5 years to pay them off, but there are too many risk factors to say.

 

https://www.carnivalcorp.com/node/61481/html

 

 

[drsel]

Travelling with Bruce on YouTube says that Carnival Corporations assets are worth $45 billion and their loans are $10.5 billion.

also in the last year they bought back shares worth $603 million out of a maximum $1 billion allowed.

They had been paying huge dividends for many years.

He strongly feels that they are well capitalised and they should survive this pandemic

[travelhound]

11 hours ago, drsel said:

Travelling with Bruce on YouTube says that Carnival Corporations assets are worth $45 billion and their loans are $10.5 billion.

also in the last year they bought back shares worth $603 million out of a maximum $1 billion allowed.

They had been paying huge dividends for many years.

He strongly feels that they are well capitalised and they should survive this pandemic

Yup, CCL will start to stabilize when they resume operation and they will really take off when they announce a vaccine.

[BlerkOne]

1 hour ago, travelhound said:

Yup, CCL will start to stabilize when they resume operation and they will really take off when they announce a vaccine.

 

It will really take off when they resume cruising, and will really drop if they have to suspend operations again.

 

I'm not holding my breath for a 100% effective long term vaccine.