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FIN 683 Ashford University Credit Evaluation of Carnival Corp Discussion Paper

 

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A non-investment grade (e.g., junk or high-yield): Carnival Corp – CCL.GC

Evaluate the credit quality of your non-investment grade-rated bond. In your post, describe the following with respect to your non-investment grade rated bond:

  • Seniority ranking of the bond.
  • Capacity, as evidenced by the following ratios:
    • EBITDA margin
    • Return on capital
    • Debt/capital
    • Debt/EBITDA
    • FFO/debt
    • FCF after dividends/debt
    • EBITDA/interest expense
    • EBIT/interest expense