...- Global cruise operator Carnival Corp.'s current forward bookings, accelerated booking volumes in the second quarter of 2023, ongoing recovery toward normal occupancy, and better pricing compared with 2019 should support a significant increase in revenue, EBITDA, and cash flow. These factors should also support a decrease in leverage to around 7x by the end of fiscal 2023 (ending Nov. 30) and under 6.5x in fiscal 2024 despite macroeconomic risks. - Therefore, we revised our rating outlook on the company to positive from negative and affirmed all ratings, including the 'B' issuer credit rating. - The positive outlook reflects the possibility we may raise the rating over the next 12 months if Carnival's forward bookings for 2023 and 2024 support continued recovery in revenue, EBITDA, and cash flow, such that we expect leverage will remain under 6.5x....
