S&P Global upgrades Bombardier credit rating
Bombardier designs, builds, modifies and maintains a line of jets for individuals, businesses, governments and militaries around the world
Bombardier stock has added 22.42 per cent year-over-year and 561.23 per cent since 2020
Bombardier stock (TSX:BBD.A) is up after S&P Global upgraded the company's credit rating from BB- to B+ with a stable outlook.
According to Wednesday's statement from Bart Demosky, Bombardier's executive vice president and chief financial officer, 'this upgrade underscores Bombardier's robust financial performance and strategic management, reflecting our solid execution across business segments, effective deleveraging efforts and increase in liquidity.'
The company has been net income profitable for over two years coming out of its restructuring in 2021, which saw it exit the train business to focus exclusively on private jets. Revenue is up by more than 42 per cent over the period combined with a 22 per cent reduction in total debt.
'We now look to the future with confidence, knowing we have solid financial foundations, a strong backlog providing visibility on future deliveries, diversification through growth of Services and Defense businesses, as well as a market-leading product portfolio that continues to see strong demand,' Demosky added.
As detailed in Bombardier's Q1 2025 financial results, the company expects year-over-year improvements in aircraft deliveries, revenue, adjusted EBITDA and free cash flow in 2025 supported by a robust backlog of US$14.2 billion as of March 31. About Bombardier
Bombardier designs, builds, modifies and maintains a line of jets for individuals, businesses, governments and militaries around the world. Its customers operate a fleet of more than 5,100 aircraft supported by 10 service facilities across six countries. The company operates aerostructure, assembly and completion facilities in Canada, the United States and Mexico.
Bombardier stock (TSX:BBD.A) is up by 0.98 per cent trading at C$107.45 as of 9:37 am ET. The stock has added 22.42 per cent year-over-year and 561.23 per cent since 2020.
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