Bombardier refutes Moody's rating change linked to CDPQ deal
Bombardier Inc (TSX: BBD.B) said it "strongly disagrees" with Moody's decision regarding a senior unsecured rating change from B2 to B3. The change pertains to the structure of a US$1.5 billion investment by Caisse de dépôt et placement du Québec (CDPQ). The investment, announced last November, gave CDPQ a 30 percent stake in Bombardier's rail business. The company said Moody's decision fails to recognize progress made in the past year, which in includes a stronger liquidity position based on US$2.5 billion raised through the CDPQ deal and a Québec government agreement.
23 June 2016•3 mins read
