Securities and Exchange Commission
Judiciary Plaza
450 Fifth Street, N.W.
Washington, D.C. 20549-1004
RE: Bombardier Credit Receivables Corporation:
Bombardier Receivables Master Trust I
Ladies and Gentlemen:
On behalf of Bombardier Credit Receivables Corporation (The "Registrant"), we
hereby file with the Commission a Current Report on Form 8-K (The "Report") on
behalf of the Bombardier Receivables Master Trust I, and deliver to you herewith
the following documents:
One copy of the Report, including the exhibit being filed
therewith, together with an exhibit index:
Please acknowledge receipt and filing of this letter to Bombardier Credit
Receivables Corporation, 1600 Mountain View Drive, Colchester, VT 05446.
Very truly yours,
/s/ Blaine Filthaut
Blaine Filthaut
Treasurer
Bombardier Credit Receivables Corp.
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report ( Date of Earliest Event Reported): April 26, 2001
BOMBARDIER CREDIT RECEIVABLES CORPORATION
(Depositor)
(Exact name of registrant as specified in its charter)
on behalf of
BOMBARDIER RECEIVABLES MASTER TRUST I
(Issuer with respect to the Floating Rate Class A Asset Backed Certificates,
Series 2000-1 and the Floating Rate Class B Asset Backed Certificates,
Series 2000-1)
Delaware 33-69282 03-0340600
(State or other jurisdiction (Commission (IRS Employer
of Incorporation) File Number) Identification No.)
1600 Mountain View Drive, Colchester, Vermont 05446
(Address of principal executive offices) (ZIP code)
Registrant's telephone number, including area code: (802) 655-2824
Page 1 of 9
Exhibit Index Appears on Page 4
Item 5. Other Event
Information concerning interest distributions made on the Floating Rate Class A
Asset Backed Certificates, Series 2000-1 and the Floating Rate Class B Asset
Backed Certificates, Series 2000-1 (collectively, the Certificates) of the
Bombardier Receivables Master Trust I ( the Trust) on April 16, 2001 is
contained in the Distribution Date Statement provided to each holder of the
Certificates. Such Distribution Date Statement is attached hereto as Exhibit
99.1 and is incorporated herein by reference. In addition, information
concerning the (I) aggregate amount of principal collections and non-principal
collections with respect to the Receivables held by the Trust (ii) amounts
payable on account of the Variable Funding Certificate and
Item 7. Financial Statements and Exhibits
(a) Not applicable
(b) Not applicable
(c) Exhibits:
99.1. Distribution Date Statement relating to interest distributions
made on April 16, 2001 on the Floating Rate Class A Asset Backed
Certificates, Series 2000-1 and the Floating Rate Class B Asset Backed
Certificates, Series 2000-1.
99.2. Schedule detailing (i) the amount of principal collections and
non-principal collections allocable to the Variable Funding Certificate
for the Collection Period ending March 30, 2001 (iii) the aggregate
amount of principal collections and non-principal collections on the
Receivables for such Collection Period and (iv) the Monthly Servicing
Fee payable on account of the Variable Funding Certificate for such
Collection Period.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized on the date indicated.
BOMBARDIER CREDIT RECEIVABLES CORPORATION
/s/Blaine Filthaut
Name: Blaine Filthaut
Title: Treasurer
Dated: April 26, 2001
EXHIBIT INDEX
Exhibit No. Page # Description
99.1 5 Distribution Date Statement relating to interest
distributions made on April 16, 2001 on the Floating
Class A Asset Backed Certificates, Series 2000-1 and the
Floating Rate Class B Asset Backed Certificates, Series 2000-1
99.2 8 Schedule detailing (i) the amount of principal collections
and non-principal collections allocable to the Variable
Funding Certificate for the Collection Period ending
March 30, 2001(ii) the aggregate amount of principal
Collections and non-principal collections on the receivables
for such Collection Period and (iii) the Monthly Servicing
Fee payable on account of the Variable Funding Certificate
for such Collection Period.
Bombardier Credit Receivables Corporation
Bombardier Capital Inc. as Servicer
DISTRIBUTION DATE STATEMENT Series 2000-1
Distribution Date: 04/16/01
1 Amount of principal paid or distributed:
(a) Class A Certificates: 0
per $1,000 original principal amount of Class A Certificates 0
(b) Class B Certificates: 0
per $1,000 original principal amount of Class B Certificates 0
2 Floating Allocation Percentage for such Collection Period (unweighted average): 30.56%
3 Principal Allocation Percentage for such Collection Period: N/A
4. Amount of interest paid or distributed:
(a) Class A Certificates: 1,776,020.22
per $1,000 original principal amount of Class A Certificates 4.74
(b) Class B Certificates: 127,423.33
per $1,000 original principal amount of Class B Certificates 5.02
5.(a) Series 2000-1 Investor Default Amount for such Distribution Date: 493,839.64
6. Required Subordination Draw Amount, if any, 0
for the preceding Collection Period (or for such Distribution Date):
7. (a) Amount of Investor Charge-Offs for the preceding Collection Period: 0
(b) Amount of Reimbursements of Investor Charge-Offs for the preceding period: 0
8. (a) Amount of Class A Carryover Amount being paid or distributed 0
(b) Balance: 0
Distributed per $1,000 original principal amount of Class A Certificates 0
9. (a) Amount of Class B Carryover Amount being paid or distributed 0
(b) Balance: 0
Distributed per $1,000 original principal amount of Class B Certificates 0
10. Pool Balance at end of related Collection Period 1,318,552,444
11. After giving affect to distributions on this Distribution Date:
(a) Outstanding principal amount of Class A Certificates: 374,600,000
(b) Outstanding principal amount of Class B Certificates: 25,400,000
(c) Certificate Balance: 400,000,000
(d) Pool Factor for Class A Certificates: 1.00000000000
(e) Pool Factor for Class B Certificates: 1.00000000000
12. Applicable Interest Rate:
(a) In general:
(1) LIBOR for the period from the previous Distribution Date to this Distribution Date: 5.1638%
(2) Net Receivables Rate 8.85%
(b) Class A Rate: 5.3338%
(c) Class B Rate: 5.6438%
13. (a) Amount of Monthly Servicing Fee for the preceding Collection Period 666,667
(b) Series 2000-1 Excess Servicing Fee being distributed and remaining balance (if any): 1,867,245
(1) Distributed: 1,867,245
(2) Balance: 0
14. Invested Amount on this Distribution Date (after giving effect to all distributions
which will occur on such Distribution Date): 400,000,000
15. The Available Subordinated Amount (inclusive of incremental subordination)
On the immediately preceding Distribution Date: 23,280,423
On this Distribution Date: 23,280,423
16. The Incremental Subordinated Amount on the immediately preceding Determination Date 0
On this Distribution Date: 0
17. The Reserve Fund Balance for this Distribution Date: 2,000,000.00
18. The Excess Funding Account Balance for this Distribution Date: 0
19. Amount in the Excess Funding Account at the beginning of an Early Amortization Period
or Initial Amortization Period to be distributed as a payment of principal in respect to:
(a) Class A Certificates: N/A
(b) Class B Certificates (only if Class A Certificates have been paid in full): N/A
20. The minimum Collection Account balance with respect to this Distribution Date: 7,017,659.37
Series 1997-1 Interest Payments on Class A Certificates 1,878,666.67
Series 1997-1 Interest Payments on Class B Certificates 132,460.42
Series 1997-1 Investor Defaults (to be remitted to BCI) 527,328.14
Series 1996-1 Servicer Advances (to be remitted to BCI) 684,780.67
Series 1996-1 Investor Defaults (to be remitted to BCI) 185,189.86
Series 1997-2 Servicer Advances (to be remitted to BCI) 914,618.02
Series 1997-2 Investor Defaults (to be remitted to BCI) 185,189.86
Series 1997-2 Fees (to be remitted to ABN) 36,666.67
Series 2000-1 Interest Payments on Class A Certificates 1,776,020.22
Series 2000-1 Interest Payments on Class B Certificates 127,423.33
Series 2000-1 Investor Defaults (to be remitted to BCI) 493,839.64
Collection Account Investment Proceeds (to be remitted to BCI) 49,716.73
Series 1997-1 Reserve Fund Investment Proceeds (to be remitted to BCI) 9,733.73
Series 1996-1 Reserve Fund Investment Proceeds (to be remitted to BCI) 3,510.98
Series 1997-2 Reserve Fund Investment Proceeds (to be remitted to BCI) 3,418.04
Series 2000-1 Reserve Fund Investment Proceeds (to be remitted to BCI) 9,096.38
Series 1997-1 Excess Fund Account Investment Proceeds (to be remitted to BCI) 0
Series 1996-1 Excess Fund Account Investment Proceeds (to be remitted to BCI) 0
Series 1997-2 Excess Fund Account Investment Proceeds (to be remitted to BCI) 0
Series 2000-1 Excess Fund Account Investment Proceeds (to be remitted to BCI) 0
21. An Early Amortization Event has occurred: NO
22. The Servicer has elected not to extend the Initial Principal Payment Date: N/A
23. The ratio (expressed as a percentage) of (x) the average for each month of the net losses
on the Receivables in the Pool during any 3 consecutive calendar months to (y) the
average of the month-end Pool Balances for such three-month period is: 0.04%
(Annualized three month average net losses) 0.43%
24. Three-Month Payment Rate for the three (3) most recent Collection Periods: 12.53%
A Three-Month Payment Rate Trigger has occurred: NO
25. Receivables Rate : 10.85%
26. Inventory Aging of the Eligible Pool Balance as of the end of the Collection Period:
0-120 days 40.91%
121-179 days 14.48%
180-269 days 17.23%
270-359 days 7.97%
360-479 days 9.26%
480 + 10.15%
27. Optional removal of Receivables aged greater than 450 days during the related 0
Collection Period
28. Eligible Investments on deposit in the Excess Funding Account and amounts on deposit
in the Excess Funding Accounts for all other Series at the end of the Interest Period
as a percentage of the assets of the Trust: 0.00%
Has an asset composition Event Occurred: NO
29. Amount of 491 Day Aged Receivables made Ineligible during Collection Period: 15,433,789.31
Cumulative amount of 491 Day Aged Receivables made Ineligible from:
Aged Optional
Ineligibles: Removals: Put Limit:
February 1, 2001 to May 31, 2001: $ 34,705,549 0 $ 77,505,469
Has an Early Amortization Event Occurred: NO
30. Principal Amount of Receivables subject to a Participation Interest at end of 0
Collection Period:
31. Product Line Breakdown Test Level: Actual:
Bombardier: 45.00% 24.85%
Marine: 45.00% 34.13%
Recreational Vehicles: 20.00% 12.12%
CEA / Other: 10.00% 4.63%
Manufactured Housing: 45.00% 24.28%
Lawn & Garden: 10.00% 0.00%
Total: 100.00%
32. Overconcentration Amounts:
Designated Manufacturer Concentration: 0
Industry Overconcentrations: 0
Dealer Overconcentrations: 0
Manufacturer Overconcentrations: 0
Total Overconcentration Amounts: 0
33. (a) BRMT I Defaulted Amount for Collection Period: 1,615,906
(b) BRMT I Non-Principal Collections Collection Period: 16,032,073
(c) BRMT I Principal Collections Collection Period: 182,304,394
(d) BRMT I Recovery Amount for Collection Period: 4,440,455
34. Total Defaulted Amount at end of Collection Period relating to non payment
of at least $150 of interest due more than 90 days: 646,305
35. Amount of Receivable purchased by the trust at a discount during Collection Period: 18,090,329
36. Has an automatic Addition of Accounts Occurred: NO
37. Pool data on Receivables added as Automatic Account Additions N/A
Prepared by: Mr. John Quinn
Securitization Manager