According to a recent company report, BRP, Bombardier Recreational Products is trying raise between 40 and 80 million dollars in capital in order to reduce it's overall debt.
Funding would come from shareholders and other institutional investors and sources.
BRP is also seeking an amendment allowing it to use the new funding to repurchase debt at a discount, which reportedly seems to have led Standard & Poors to downgrade BRP corporate credit rating from B-minus to CCC-plus.
Link to full article below...
http://www.boating-industry.com/output.cfm?id=2104219
-Chris
Funding would come from shareholders and other institutional investors and sources.
BRP is also seeking an amendment allowing it to use the new funding to repurchase debt at a discount, which reportedly seems to have led Standard & Poors to downgrade BRP corporate credit rating from B-minus to CCC-plus.
Link to full article below...
http://www.boating-industry.com/output.cfm?id=2104219
-Chris