Bombardier Recreational Products Inc. CCR Cut To 'SD' On Debt Repurchase Below Par; Participating Term Loan Cut To 'D' - S&P Global Ratings’ Credit Research

Bombardier Recreational Products Inc. CCR Cut To 'SD' On Debt Repurchase Below Par; Participating Term Loan Cut To 'D'

Bombardier Recreational Products Inc. CCR Cut To 'SD' On Debt Repurchase Below Par; Participating Term Loan Cut To 'D' - S&P Global Ratings’ Credit Research
Bombardier Recreational Products Inc. CCR Cut To 'SD' On Debt Repurchase Below Par; Participating Term Loan Cut To 'D'
Published Jul 02, 2009
750 words — Published Jul 02, 2009
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About This Report

  
Abstract:

We lowered the long-term corporate credit rating on Bombardier Recreational Products Inc. to 'SD' from 'CC'. We lowered the rating on the company's US$790 million senior secured term loan two notches to 'D' from 'CC'. The recovery rating on the term loan is unchanged. All ratings are removed from CreditWatch negative. These rating actions follow the settlement of the company's below-par debt tender offer, which we view as tantamount to default. TORONTO (Standard&Poor's) July 2, 2009--Standard&Poor's Ratings Services today said it lowered its long-term corporate credit rating on recreational products manufacturer Bombardier Recreational Products Inc. (BRP) to 'SD' (selective default) from 'CC'. At the same time, we lowered the rating on BRP's US$790 million senior secured

  
Brief Excerpt:

RESEARCH Bombardier Recreational Products Inc. CCR Cut To '##' On Debt Repurchase Below Par; Participating Term Loan Cut To 'D' Publication date: 02-Jul-2009 Primary Credit Analyst: Lori Harris, Toronto (1) 416-507-2546; lori_harris@standardandpoors.com...

  
Report Type:

Ratings Action

Ticker
293168Z@CN
Issuer
Bombardier Recreational Products Inc.
GICS
Leisure Products (25202010)
Sector
Global Issuers
Country
Canada
Region
Canada
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Bombardier Recreational Products Inc. CCR Cut To 'SD' On Debt Repurchase Below Par; Participating Term Loan Cut To 'D'" Jul 02, 2009. Alacra Store. May 24, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Bombardier-Recreational-Products-Inc-CCR-Cut-To-SD-On-Debt-Repurchase-Below-Par-Participating-Term-Loan-Cut-To-D-731765>
  
APA:
S&P Global Ratings’ Credit Research. (). Bombardier Recreational Products Inc. CCR Cut To 'SD' On Debt Repurchase Below Par; Participating Term Loan Cut To 'D' Jul 02, 2009. New York, NY: Alacra Store. Retrieved May 24, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Bombardier-Recreational-Products-Inc-CCR-Cut-To-SD-On-Debt-Repurchase-Below-Par-Participating-Term-Loan-Cut-To-D-731765>
  
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