BBD-A.TO - Bombardier Inc.

Triumph Group, Inc. -- Moody's assigns B3 rating to Triumph Group's new second lien notes; affirms Caa1 CFR, outlook stable

Moody's Investors Service ("Moody's") assigned a B3 rating to Triumph Group, Inc's. ("Triumph"), new second lien notes due 2024 and affirmed its other ratings including the Caa1 Corporate Family (CFR), the Caa1-PD Probability of Default, and the Caa2 senior unsecured. Proceeds from the second lien notes will be used to pay off Triumph's senior unsecured notes due 2021 and to reduce borrowings on the revolving credit facility.

UPDATE 1-Bombardier-led consortium wins $4.5 bln monorail contract in Egypt

A consortium led by Bombardier Inc said on Monday it had won a contract to build and operate two monorail lines in Egypt for more than $4.5 billion. The project, for which Bombardier's rail division had emerged as the preferred bidder, would be its largest in recent years, with the company having a $2.85 billion share of the contract. Orascom Construction will have a share of about $900 million.

PRESS DIGEST- Canada - Aug 2

Bombardier Inc. -- Moody's says Bombardier's updated guidance for increased free cash flow usage is credit negative

Moody's Investors Service ("Moody's") says Bombardier Inc.'s (Bombardier -- B3, stable) announced revised guidance of increased free cash flow usage, lower margins at Bombardier Transportation ("BT") and resultant lower EBITDA for 2019 are credit negative because the incremental negative free cash flow means Bombardier remains reliant on its liquidity to fund its operations and expected deleveraging is now delayed. This publication does not announce a credit rating action.

CANADA STOCKS-TSX futures up as focus turns to earnings

UPDATE 2-Bombardier posts loss, lowers 2019 profit forecast as rail woes persist

Bombardier Inc on Thursday lowered its full-year core earnings and free cash flow forecasts, and reported a quarterly loss, as the Canadian plane and train maker wrestles with challenges in its important rail division. Montreal-based Bombardier is in the middle of a broader restructuring, shedding underperforming commercial plane programs to focus on its more profitable business jet and rail units. The rail division is Bombardier's largest by revenue.

CORRECTED-Tanzania to buy new Airbus, De Havilland planes for national carrier

Tanzania's government will buy two new Airbus jets and one plane from De Havilland Canada as part of a fleet expansion plan for the national flag carrier, the president said on Thursday. President John Magufuli has personally taken charge of the revival of Tanzania's loss-making state carrier Air Tanzania Company Limited (ATCL), spending hundreds of millions of dollars purchasing eight new planes since 2016. President Magufuli "has already issued instructions for the purchase of three additional planes (two Airbus jets and one De Havilland) to expand air services and improve tourism," the president's office said in a statement.

PRESS DIGEST- Canada- July 12

Triumph Group, Inc. -- Moody's downgrades Triumph Group, Inc. ratings: CFR to Caa1, outlook stable

Moody's Investors Service ("Moody's") downgraded its ratings of Triumph Group, Inc. ("Triumph"), including the Corporate Family Rating (CFR) to Caa1 from B3, Probability of Default Rating to Caa1-PD from B3-PD and senior unsecured to Caa2 from Caa1. Moody's also upgraded the Speculative Grade Liquidity (SGL) rating to SGL-3 from SGL-4. The downgrades reflect Moody's expectations of limited cash generation, weak credit metrics and a sustained reliance on external financing over the next few years.

Bombardier Inc. -- Moody's says Bombardier's sale of its regional jet business is credit positive

Moody's Investors Service ("Moody's") says Bombardier Inc.'s (Bombardier -- B3, stable) announcement that Mitsubishi Heavy Industries, Ltd ("MHI", not rated) will acquire Bombardier's regional jet program for $550 million, payable to Bombardier upon closing, and the assumption by MHI of $200 million of associated liabilities is credit positive. This publication does not announce a credit rating action. For any credit ratings referenced in this publication, please see the ratings tab on the issuer/entity page on www.moodys.com for the most updated credit rating action information and rating history.

UPDATE 7-Bombardier exits commercial aviation with sale of regional jet business to Mitsubishi

Bombardier Inc said it will sell its money-losing regional jet business to Japan's Mitsubishi Heavy Industries Ltd (MHI) for $550 million in cash, in a deal marking the Canadian plane and train maker's exit from commercial aviation. Under the agreement, the Japanese firm will take over $200 million in liabilities, but receive Bombardier's estimated $180 million interest in a financing structure it created to support aircraft leasing. Mitsubishi Heavy shares fell 1.5% as Asian markets started trading, while the broader market was down 0.5%.

UPDATE 5-Britain broke law in allowing arms exports to Saudis -court

Britain acted unlawfully on Saudi arms exports, court rules

A British court on Thursday ruled that the British government had acted unlawfully in allowing arms exports to Saudi Arabia that might have been used in the conflict in Yemen. "The decision of the court today does not mean that licenses to export arms to Saudi Arabia must immediately be suspended," he said. The case was brought by the Campaign Against the Arms Trade against the British government.

UPDATE 1-Mitsubishi Aircraft unveils SpaceJet brand, revamped version of smaller jet

Japan's Mitsubishi Aircraft Corp rebranded its MRJ family jets to be called the "SpaceJet" and unveiled a redesigned version of the smaller jet to help improve its sales prospects in the large U.S. market. The SpaceJet M100, the revamped version of the MRJ70, will now have up to 76 seats in a typical U.S. cabin configuration rather than the earlier 69 seats, the company said on Thursday, making it a more attractive offering for regional carriers with contracts to major carriers. The larger SpaceJet M90, renamed from MRJ90, is too big for U.S. regional carriers to fly without the relaxation of pilot union rules, an unlikely prospect due to a pilot shortage that has given unions more bargaining power.

UPDATE 1-Quebec will not invest in Bombardier's regional jet program -economy minister

Quebec's economy minister said on Monday his government has ruled out investing in Bombardier Inc's weak-selling regional jet program, which could be sold to Japan's Mitsubishi Heavy Industries Ltd. Economy Minister Pierre Fitzgibbon said his government is taking steps to protect jobs within the Canadian province's aerospace sector, but he will not invest billions of taxpayer dollars to boost sales of the regional jet program which is assembled near Montreal. The Quebec government previously invested $1 billion for a stake in Bombardier's flagship narrowbody jet program, which is now owned by Europe's Airbus SE.