We raised the long-term corporate credit rating on Bombardier Recreational Products Inc. (BRP) to 'B-' from 'CCC'. We raised the rating on the company's C$270 million senior secured revolving credit facility two notches to 'B+' from 'B-'. The '1' recovery rating on the revolver is unchanged. In addition, we raised the rating on BRP's US$790 million senior secured term loan B three notches to 'B-' from 'CCC-'. We also revised the recovery rating on the term loan to '4' from '5'. We base the upgrade on BRP's significantly improved operating performance, as reflected in its third-quarter results, as well as the termination of BRP's US$250 million program to buy back debt below par. TORONTO (Standard&Poor's) Jan. 6, 2011--Standard
