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Statement from Bart Demosky, Executive Vice President and CFO, Bombardier, on S&P’s Global Ratings Upgrade from B to B+

image credit: Bombardier

Bart Demosky, Executive Vice President and CFO, Bombardier, on S&P’s Global Ratings Upgrade from B to B+:

“Bombardier is proud to share that S&P Global Ratings has upgraded the company’s credit rating from B to B+, while maintaining a stable outlook.

“This most recent upgrade highlights Bombardier’s strength and resiliency, as well the effectiveness of our team’s strategic and disciplined financial management, which has allowed us to steadily meet or exceed the company’s guidance for the past three years.

“S&P’s latest upgrade comes on the heels of Moody’s recent upgrade of Bombardier’s credit rating to B1 with a stable outlook.

“This further demonstrates the company’s strengthened financial profile, which is built on a strong and diversified backlog that continues to provide solid ground for the team to stand on and gives us a clear line of sight on our deliveries for the upcoming years.

“I want to underscore once again the crucial and foundational work that Bombardier has accomplished in recent years by prioritizing debt reduction and boosting liquidity all while building the company’s resiliency through the organic diversification of our revenue streams, including with our Services and Defense business segments.

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