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Gold/Mining/Energy : Bombardier, maker of planes and trains and other things

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To: CIMA who wrote (941)11/1/2001 3:23:22 PM
From: CIMA   of 1177
 
S&P's Bombardier ratings affirmed

00:00 EST Thursday, November 01, 2001

NEW YORK -- Standard & Poor's Corp. has affirmed its ratings on Bombardier Inc. and its subsidiaries, including the single-A-minus long-term corporate credit rating on Montreal-based Bombardier.

At the same time, the ratings were removed from CreditWatch, where they were placed on Sept. 24. The outlook is "negative."

"The ratings on Bombardier reflect its market leadership in aerospace, specifically the regional jet market; its increasingly diversified revenue stream; and the company's consolidated order backlog of $46-billion," S&P said. "Factors limiting the ratings are near-term pressure on the aerospace division -- the segment which provides the majority of the company's operating earnings; and the risk profile of Bombardier Capital Group, Bombardier's financing subsidiary."

Staff

Copyright © 2001 The Globe and Mail
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