Despite the fact they were well supplied the folks on board the Diamond Princess didn't look like they were having fun. Especially on the port side where the view of the parking lot got pretty boring, pretty fast.
From Reuters, Feb 20:
The impact on cruise companies’ earnings from canceled trips, steep discounts and ships quarantined over coronavirus concerns could pose credit risks, said ratings agencies Moody’s Investors Service and S&P Global Ratings.
Carnival Corp (CCL.N) and Royal Caribbean Cruises (RCL.N) said last week that scrapped itineraries in Asia due to the outbreak would affect their earnings per share more than expected. Norwegian Cruise Line Holdings (NCLH.N) on Thursday forecast an impact of 75 cents per share on full-year adjusted earnings, citing virus-linked fallout.
“It reduces the flexibility that these companies have in their rating categories,” said Moody’s analyst Peter Trombetta. “It removes some of their cushion.”
The earnings impact on both Carnival and Royal Caribbean were deemed “credit negative” by Moody’s although neither company’s credit ratings were immediately affected.........MORE
Earlier today Bryce looked at a couple airline casualties:
Markets not Live: In Which Bryce Makes a Segue So Smooth You'll Miss It If You Blink (plus Covid-19)
