DBRS Rates Bombardier’s Proposed New Issue at BB, Stable

DBRS has today assigned a BB rating, with a Stable trend, to the proposed issuance of up to $1 billion in Senior Unsecured Notes (Notes) by Bombardier Inc. (BBD or the Company). The Notes are expected to be due before 2020. Proceeds from the issuance are likely to be used largely toward debt repayment, with no material change in the Company’s financial profile. Bombardier announced today that it has commenced a cash tender offer to purchase up to $550 million aggregate principal amount of its 6.75% Notes due 2012, 6.30% Notes due 2014 and Floating Rate Senior Notes due 2013. DBRS notes that the Company has the option to increase the tender offer to $1.25 billion.

Notes:
All figures are in U.S. dollars unless otherwise noted.
The applicable methodology is Rating Industrial Products Companies which can be found on our website under Methodologies.

This is a Corporate rating.

Based on public information.