Oceania credit rating downgraded

[WesW]

fyi,

 

http://www.alacrastore.com/research/s-and-p-credit-research-Oceania_Cruises_Inc_Downgraded_To_B_Outlook_Negative-736003

[cruiseyguy]

Lower in the water, for sure, but not sinking.

[orchestrapal]

Let's not get to excited about this.....What are the ratings of all the other cruise lines? I, for one, am not worried and will continue to book and hope the rest of you will also. :)

[suec12]

"What are the ratings of the other cruise lines" - was this a rhetorical question - does anyone know the answer?

[Rickey 88]

"What are the ratings of the other cruise lines" - was this a rhetorical question - does anyone know the answer?

 

Unless one is a subscriber to one or more of the rating services, this type of data is not readily available, and even then it bears a substantial charge.

 

If anyone is truly interested, you should contact your broker and get that data from them.

[orchestrapal]

It was a "rhetorical question", who cares about any of this!:confused:

[Rickey 88]

It was a "rhetorical question", who cares about any of this!:confused:

 

Well said!!! As our economy continues to move about, ratings of ALL firms move up and move down. Posting messages such as this, or another thread "Has Oceania Financial Problems,,,?" serve no particular purpose except to muddy up the water.

In fact, the latter thread was really from some poor soul who had some sort of difficulty in finding where his refund was!

[cruiseyguy]

CC, I believe, welcomes all information about cruising that may be relevant to a passenger's needs and/or experience. Financial information about a line certainly would be useful to anyone planning a cruise nowadays and does not "muddy the waters." If anything, this kind of information helps clear things up. There is more to choosing a cruise line than dress codes and food.

[meow!]

"Oceania credit rating downgraded to B with negative outlook"

 

So many credit rating agencies use so many different nomenclature, some from AAA to AA+ to AA etc., and BBB will be "junk", while others use AAA, AA1, AA2 etc. All so confusing.

 

I remember reading somewhere that half a century ago, diamonds used to be rated from AAAAA to A, and differently by different shops. Then came the "GIA". To make a clean break from the multiple A's their scale starts from D to Z, and this scale has hence become universal.

 

Won't it be nice if they can do likewise with financial credits, and rate from D to Z, simple, hopefully honest and objective, and consistent for all?!

 

And in any case, use a major credit card for your cruise ticket with ANY cruise line. If it goes under, you get your refund by the credit card company, not to worry!

[RJB]

Sorry, but this post does not muddy the waters at all. It helps to clear the waters and give us another tool in making up our minds as to what might happen 12 months out. More often one downgrade leads to another, and so on. We have booked for 2011, but will watch the credit outlook closely. Can't be too careful these days.:)

[RJB]

Sorry, we booked for 1010, not 2011:)

[RJB]

2010:mad:

[Paul123]

This is undoubtedly an industry thing and with all cruise line companies affected I suspect. In the case of Oceania it just depends on how the owners at Apollo feel about their investment in Regent and Oceania. They must be under pressure a bit due to their other investments, much of which is property related as well of course it has NCL in its portfolio. Cash flows must be hit hard with all the heavy discounting and new build costs being incurred.

 

http://www.usatoday.com/travel/cruises/item.aspx?ak=65047903.blog&type=blog

[lunarella]

Other cruiselines are hurting, too.

Standard and Poor downgraded Carnival Corporation from A- to BBB+ back in March, 2009, and said that the outlook is negative. I wonder if they will be downgraded further before the summer is through. I realize there is a big difference between S&P's BBB+ "lower medium grade" (Carnival) and B+ "highly speculative" (Oceania), but the downturn is being felt industry-wide.

Trip insurance may give everyone some relief in case the unthinkable would happen with Oceania. Let's think positively that our continued bookings can help to keep them afloat until the economy improves.

[Leonid]

As lunarella stated, one is smart to get trip insurance. Just make sure that the company you use hasn't excluded Oceania. Many trip insurance companies have excluded many airlines and tour operators.

[MSEm]

I purchased from trip insurance from a 3rd party. That will cover my cruise fare is they stop sailing. I am not that worried at this time. All leisure travel have been hit by the recession.

 

MSEm

[Paul123]

I think you will find that with the two big ones, Carnival and Royal Caribbean being down graded, it was inevitable that Oceania would also be hit in the same way. How could those two giants have the negative rating and little Oceania not also be hit with its credit rating. Its just common sense when you think about it.

 

If you investigate their bookings for the forthcoming year and more you will quickly find that they are fully (or near fully) booked on all their three ships helped no doubt by some incredibly good marketing activity.

 

I doubt anyone will be neading their insurance to bail themselves out.

[cruiseyguy]

As with the airlines and heavy discounting, full ships do not necessarily mean profits.

[lovecruisingtoo]

 

If you investigate their bookings for the forthcoming year and more you will quickly find that they are fully (or near fully) booked on all their three ships helped no doubt by some incredibly good marketing activity.

 

Have you tried to look at the bookings? From what I can see, none of the summer 2010 cruises are sold out or nearly sold out. A couple of the cruises have a waitlist for the suites, but all other categories are able to be booked.

[LHT28]

Have you tried to look at the bookings? From what I can see, none of the summer 2010 cruises are sold out or nearly sold out.

Maybe people are waiting for their portfolios to recover or looking for deep discounts that happened this past year before booking so far out.

 

Lyn

[lovecruisingtoo]

Maybe people are waiting for their portfolios to recover or looking for deep discounts that happened this past year before booking so far out.

 

Lyn

 

Was just responding to Paul123 who stated that most of O's cruises were sold out or close to sold out (which is absolutely not the case). I agree that most people are probably waiting to see what happens with discounting or the economy.

[LHT28]

Was just responding to Paul123 who stated that most of O's cruises were sold out or close to sold out (which is absolutely not the case). I agree that most people are probably waiting to see what happens with discounting or the economy.

I agree just the ones with the special promotions & deep discounts are sold out but after April 2010 bookings seem to be light.

Our Roll Call has only a few for our July cruise

[Bowie MeMe]

:eek:I think Lyn is right. Many people are OK financially but the doom and gloom makes you feel like it is not so OK. It may only be "paper profits" but it hurts to see that you are worth so much less on paper!

[Paul123]

Have you tried to look at the bookings? From what I can see, none of the summer 2010 cruises are sold out or nearly sold out. A couple of the cruises have a waitlist for the suites, but all other categories are able to be booked.

 

I think FDR's interview says it all. Oceania is heading for a bumper 2010 which is incredible considering where the market has just come from. Try booking for the Grand Voyages on the Insignia in February and March 2010.

 

http://www.professionaltravelguide.c...dings-p2168904

[Hunding]

fyi,

 

http://www.alacrastore.com/research/s-and-p-credit-research-Oceania_Cruises_Inc_Downgraded_To_B_Outlook_Negative-736003

 

And, yet, still higher than the State of California.... :eek: