MF seems to only get half the story right with CCL. Whenever they talk about debt they don't mention that a huge part of that debt was from new ships and renovation of some existing ships. Which was a brilliant gamble which allows them to capture more rev meeting the higher than expected demand. They think CCL needs to buyore ships, wrong they don't need to. Now we also know that 80% of their debt has fixed interest rate, which is also good news. $Carnival(CCL)$
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