Bombardier Inc. T.BBD.A

Rating

[Steve759]

Moody's Upgrades Bombardier, Changes Outlook to Stable; Falls 1.2% 2021-08-10 10:36:26 AM ET (MT Newswires)

10:36 AM EDT, 08/10/2021 (MT Newswires) -- Moody's said Monday that it has upgraded Bombardier Inc.'s (BBD-B.TO) corporate family rating to Caa1 from Caa2, its probability of default rating to Caa1-PD from Caa2-PD, senior unsecured notes rating to Caa1 from Caa2, and assigned a Caa1 rating to its new senior unsecured notes. The company's stock edged down 1.2% on last look on Tuesday in Canada. The speculative grade liquidity rating remains unchanged at SGL-3, indicating adequate liquidity. The rating agency has changed the outlook on the company to stable from negative. "The upgrade reflects Bombardier's progress in extending its debt maturity profile, including the expected notes issuance, the company's next maturity is now December 2024 which has removed near-term refinancing risk" Moody's analyst Jamie Koutsoukis said. Price: 1.71, Change: -0.02, Percent Change: -1.16

[Jd007gobbd]

This is a good thing  The upgrade reflects Bombardier's progress in extending its debt maturity profile, including the expected notes issuance, the company's next maturity is now December 2024 which has removed near-term refinancing risk" Moody's analyst Jamie Koutsoukis said.