Statement from Bart Demosky, Executive Vice President and CFO, Bombardier, on Moody’s Ratings Upgrade to B2:
All of us at Bombardier are very pleased with Moody’s rating increase, announced yesterday.
It represents another affirmation of the meaningful progress we have made so far, particularly on debt reduction, earnings, and positive free cash flow generation, and is in line with the updated 2025 objectives we presented just last month during our Investor Day 2023 (the recording of the webcast is available here).
Our performance so far is giving us great momentum in our continued efforts to further reduce our debt and net leverage, which remains a top priority in repairing our balance sheet and improved financial performance.
Thanks to our steadfast execution of the strategic plan announced in 2021, all of Bombardier’s strategic priorities are on track or ahead of plan, and we are looking to the future with optimism.