RE:UpgradeGood incremental progress and this report is for performance up to date and may very well be upgraded by year end if the same performance continues.
We certainly can't expect this ship turning on a dime when it took much longer to get to this point of debt.
Steve759 wrote: | Moody's Upgrades Bombardier on Efforts to Cut Debt | | 2022-07-15 01:46:18 PM ET (MT Newswires) | | | |
| | | | 01:46 PM EDT, 07/15/2022 (MT Newswires) -- Moody's on Friday upgraded Bombardier Inc.'s (BBD-B.TO) corporate family rating to B3 from Caa1, its probability of default rating to B3-PD from Caa1-PD and senior unsecured notes rating to B3 from Caa1. Also, the rating agency upgraded the company's speculative grade liquidity rating to SGL-2 from SGL-3. The outlook is stable. "The upgrade reflects Bombardier's continued progress in reducing debt with $773 million of notional repayments made year to date and its improved financial performance that includes increased earnings, and positive free cash flow" Jamie Koutsoukis, Moody's analyst, said in a statement. The company's shares dropped 0.7% on last look on Friday. Bombardier is a Canadian-based business jet manufacturer. Price: 19.51, Change: -0.14, Percent Change: -0.71 | |