Norwegian Cruise Line Closes $950M Notes, Expands Revolver
Norwegian Cruise Line closed $950M in 8.750% senior notes to redeem 2028 debt and upsized its revolving credit facility with JPMorgan to $2.8 billion.
high-yield bonds
High-Yield Bonds vs. Leveraged Loans: Key Differences Explained
Compare high-yield bonds and leveraged loans. Learn how seniority, fixed vs. floating rates, call protection, covenants, and recovery rates differ.
Credit Ratings Explained: How Moody’s, S&P, and Fitch Grade Debt
Credit ratings are opinions on default risk from SEC-designated agencies. What the scales mean, why the BBB-/Baa3 line moves markets.
Junk Bonds in 2026: What Widening Credit Spreads Are Signaling
High-yield credit spreads are widening in 2026. Here’s what the junk bond market is telling investors about recession risk, corporate debt, and what comes next.