Moody’s has downgraded Bombardier’s debt to B2 from B1 and raised its probability of default from B1-PD to B2-PD amid concern of the firm’s “very high” debt levels.
Moody’s has downgraded Bombardier’s debt to B2 from B1 and raised its probability of default from B1-PD to B2-PD amid concern of the firm’s “very high” debt levels. Cash concerns and risks connected to its CSeries jets are also part of the rating agency’s decision. Bombardier’s debt was U$9.6 billion at the end of June and second-quarter spending was $808 million compared to $424 million in the same period in 2014.
