Bombardier Downgraded: Rating Agencies Concerned
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April 3, 2020 - by JULIEN ARSENAULT for lapresse.ca
Bombardier's recovery seems more uncertain than ever because of the economic storm caused by the COVID-19 pandemic, say two of the main rating agencies, which recently opted for a new haircut from the Quebec multinational.
These decisions, which generally drive up borrowing costs, place the company in the category of highly speculative securities.
Meanwhile, on the Toronto Stock Exchange, the title of Bombardier - which is preparing to focus only on business jets - quoted at 40 cents on Friday midday.
While Eric Martel will officially take over from Alain Bellemare at the helm of the company on Monday, Standard & Poor's was particularly concerned in...
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