TORONTO (Standard&Poor's) Nov. 24, 2008--Standard&Poor's Ratings Services today said it lowered its ratings on recreational products manufacturer Bombardier Recreational Products Inc. (BRP), including the long-term corporate credit rating to 'B' from 'B+'. At the same time, we placed the ratings on CreditWatch with negative implications. The recovery ratings on the bank loan are unchanged. "The downgrade and CreditWatch placement reflect Standard&Poor's concerns that in the current economic downturn BRP's revenue, operating profit, credit protection measures, and financial flexibility will weaken significantly in the near term," said Standard&Poor's credit analyst Lori Harris. Consumer spending for "big ticket" discretionary items, such as BRP's personal watercraft, marine engines, and ATVs, has declined considerably this year,
