Moody's Upgrades Bombardier to 'Positive'

Bombardier Inc.’s (BDRAF.PK) outlook was upgraded to “positive” from “stable” by Moody’s Investors Service Wednesday, affecting roughly $4-billion of debt.

Strong international demand and a record backlog at the Montreal manufacturer were behind the upgrade, the New York-based ratings service said, adding that the company was well-positioned to improve its revenue growth, profitability, and cash flows.

Bombardier’s sizable backlog in each of its two business segments positions the company for further growth and margin improvements beyond the gains achieved in fiscal 2008,” Darren Kirk, Moody’s lead analyst, said announcing the upgrade. In addition, Moody’s affirmed its Ba2 corporate family, Ba2 senior unsecured and SGL-2 liquidity ratings.