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Bombardier faces tough questions about future as share price, credit rating fall

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globalnews.ca

Bombardier Inc. is confronting sobering questions about its future following new share price lows and two credit rating downgrades.

The plane-and-train maker’s stock sunk to its lowest level in more than 25 years on Thursday, closing at 42.5 cents before falling a further eight per cent in midday trading Friday.

The nosedive presents unprecedented challenges for Eric Martel, while arrives Monday as CEO after the board announced Alain Bellemare’s departure last month.

A week earlier, Fitch Ratings cut Bombardier’s credit rating to CCC from CCC+ several days after the manufacturer suspended production in Canada, sending 12,400 workers on unpaid leave due to government requirements prompted by the COVID-19 pandemic.

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