Valcourt, Que.-based recreational products manufacturer Bombardier Recreational Products Inc. (BRP) plans to issue new bank debt to refinance existing debt, pay a special C$375 million dividend, and for general corporate purposes. We are assigning our 'B+' issue-level rating and '4' recovery rating to the company's proposed US$1.05 billion senior secured term loan B due 2019. We are also affirming our ratings on BRP, including our 'B+' long-term corporate credit rating on the company. The stable outlook reflects Standard&Poor's opinion that BRP will sustain improvement in its operating performance and that credit ratios will remain in line with our expectations in the next year. On Jan. 22, 2013, Standard&Poor's Ratings Services affirmed its ratings on Valcourt, Que.-based
