We are raising our long-term corporate credit rating on Bombardier Recreational Products Inc. (BRP) to 'B' from 'B-'. We are also raising our issue-level rating on the company's C$270 million senior secured revolving credit facility one notch to 'BB-' from 'B+'. The '1' recovery rating on the revolver is unchanged. In addition, we are raising our issue-level rating on BRP's US$790 million senior secured term loan B one notch to 'B' from 'B-'. The '4' recovery rating on the term loan is unchanged. We base the upgrade on BRP's ongoing improvement in its operating performance, as reflected in its fourth-quarter fiscal 2011 results, which have contributed to strengthened credit protection measures. The stable outlook reflects Standard&Poor's expectation that
