Via EDGAR Transmission 2/28/01 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): January 31, 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 1997-1 and the Floating Rate Class B Asset Backed Certificates, Series 1997-1) 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 1997-1 and the Floating Rate Class B Asset Backed Certificates, Series 1997-1 (collectively, the Certificates) of the Bombardier Receivables Master Trust I ( the Trust) on January 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 January 16, 2001 on the Floating Rate Class A Asset Backed Certificates, Series 1997-1 and the Floating Rate Class B Asset Backed Certificates, Series 1997-1. 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 December 31, 2000,(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: February 28, 2001 EXHIBIT INDEX Exhibit No. Page # Description 99.1 5 Distribution Date Statement relating to interest distributions made on January 16, 2001 on the Floating Class A Asset Backed Certificates, Series 1997-1 and the Floating Rate Class B Asset Backed Certificates, Series 1997-1 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 November 30, 2000 (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 1997-1 Distribution Date: 01/16/01 1 Amount of principal paid or distributed:

(a) Class A Certificates: - per $1,000 original principal amount of Class A Certificates - (b) Class B Certificates: - per $1,000 original principal amount of Class B Certificates - 22Floating ~~Floating~~ Allocation Percentage for such Collection Period (unweighted average): 3134.7350% 3 Principal Allocation Percentage for such Collection Period: N/A 4. Amount of interest paid or distributed: (a) Class A Certificates: 12,~~889~~428,~~388~~444.7544 per $1,000 original principal amount of Class A Certificates 56.0407 (b) Class B Certificates: ~~134~~169,~~672~~742.9222 per $1,000 original principal amount of Class B Certificates 56.3026 5.(a) Series ~~2000~~1997-1 Investor Default Amount for such Distribution Date: 1925,~~973,979~~056.9580 6. Required Subordination Draw Amount, if any, - for the preceding Collection Period (or for such Distribution Date): 7. (a) Amount of Investor Charge-Offs for the preceding Collection Period: - (b) Amount of Reimbursements of Investor Charge-Offs for the preceding period: - 8. (a) Amount of Class A Carryover Amount being paid or distributed - (b) Balance: - Distributed per $1,000 original principal amount of Class A Certificates - 9. (a) Amount of Class B Carryover Amount being paid or distributed - (b) Balance: - Distributed per $1,000 original principal amount of Class B Certificates - 10. Pool Balance at end of related Collection Period 1,~~305~~236,~~429~~667,~~334~~891 11. After giving affect to distributions on this Distribution Date: (a) Outstanding principal amount of Class A Certificates: ~~374~~400,~~600~~000,000 (b) Outstanding principal amount of Class B Certificates: 2527,~~400~~125,000 (c) Certificate Balance: ~~400~~427,~~000~~125,000 (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: 56.~~8825~~7100% (2) Net Receivables Rate 9.3884% (b) Class A Rate: 6.~~0525~~8300% (c) Class B Rate: 67.~~3625~~0400% 13. (a) Amount of Monthly Servicing Fee for the preceding Collection Period ~~666~~711,~~667~~875 (b) Series ~~2000~~1997-1 Excess Servicing Fee being distributed and remaining balance (if any): -733,730 (1) Distributed: -733,730 (2) Balance: - 14. Invested Amount on this Distribution Date (after giving effect to all distributions which will occur on such Distribution Date): ~~400~~427,~~000~~125,000 15. The Available Subordinated Amount (inclusive of incremental subordination) On the immediately preceding Distribution Date: 2324,~~280~~859,~~423~~127 On this Distribution Date: 2324,~~280~~859,~~423~~127 16. The Incremental Subordinated Amount on the immediately preceding Determination Date - On this Distribution Date: - 17. The Reserve Fund Balance for this Distribution Date: 2,~~000~~135,~~000.00~~625 18. The Excess Funding Account Balance for this Distribution Date: - 19. Amount in the Excess Funding Account at the beginning of an Early Amortization Period or Intitial 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 20The minimum Collection Account balance with respect to this Distribution Date: 119,~~759~~398,~~569~~548.7611 Series 1997-1 Interest Payments on Class A Certificates 2,~~000~~428,~~833~~444.3344 Series 1997-1 Interest Payments on Class B Certificates ~~140~~169,~~428~~742.3922 Series 1997-1 Investor Defaults (to be remitted to BCI) 2925,~~107,840~~056.4780 Series 1996-1 Servicer Advances (to be remitted to BCI) 1910,~~091,177~~501.0898 Series 1996-1 Investor Defaults (to be remitted to BCI) ~~740~~322,~~242~~922.4823 Series 1997-2 Servicer Advances (to be remitted to BCI) ~~815~~873,~~355~~538.6501 Series 1997-2 Investor Defaults (to be remitted to BCI) ~~740~~324,~~242~~866.4830 Series 1997-2 Fees (to be remitted to ABN) 3436,~~375~~666.0067 Series 2000-1 Interest Payments on Class A Certificates 12,~~889~~290,~~388~~887.7511 Series 2000-1 Interest Payments on Class B Certificates ~~134~~162,~~672~~334.9222 Series 2000-1 Investor Defaults (to be remitted to BCI) 1866,~~973,979~~310.9514 Collection Account Investment Proceeds (to be remitted to BCI) 5954,~~883~~525.0189 Series 1997-1 Reserve Fund Investment Proceeds (to be remitted to BCI) 11,~~372~~722.9623 Series 1996-1 Reserve Fund Investment Proceeds (to be remitted to BCI) 4,~~103~~736.4631 Series 1997-2 Reserve Fund Investment Proceeds (to be remitted to BCI) 35,~~996~~342.6291 Series 2000-1 Reserve Fund Investment Proceeds (to be remitted to BCI) 10,~~623~~950.1965 Series 1997-1 Excess Fund Account Investment Proceeds (to be remitted to BCI) - Series 1996-1 Excess Fund Account Investment Proceeds (to be remitted to BCI) ~~1,054.01~~- Series 1997-2 Excess Fund Account Investment Proceeds (to be remitted to BCI) - Series 2000-1 Excess Fund Account Investment Proceeds (to be remitted to BCI) - 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: 0.1710% (Annualized three month average net losses) 21.0621% 24. Three-Month Payment Rate for the three (3) most recent Collection Periods: 1314.3072% A Three-Month Payment Rate Trigger has occurred: NO 25. Receivables Rate : 11.3884% 26. Inventory Aging of the Eligible Pool Balance as of the end of the Collection Period: 0-120 days 4345.3519% 121-179 days 1614.6970% 180-269 days 1211.3958% 270-359 days 910.2566% 360-479 days 9.4034% 480 + 8.9352% 27. Optional removal of Receivables aged greater than 450 days during the related 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: 1612,~~654~~258,~~221.96~~474

Cumulative amount of 491 Day Aged Receivables made Ineligible from:

Aged Ineligibles: Optional Removals: Put Limit: October 1, 2000 to January 31, 2001: $ 4734,~~020~~260,~~331~~129 $0 - $ 64,307,347 Has an Early Amortization Event Occurred: NO

30. Principal Amount of Receivables subject to a Participation Interest at end of Collection Period: -

31. Product Line Breakdown Test Level: Actual: Bombardier: 45.00% 2319.4888% Marine: 45.00% 34.7192% Recreational Vehicles: 20.00% 1213.3811% CEA / Other: 10.00% 45.8231% Manufactured Housing: 45.00% 2426.6077% Lawn & Garden: 10.00% 0.00% ----- Total: 100% ==== 32. Overconcentration Amounts: Designated Manufacturer Concentration: - Industry Overconcentrations: - Dealer Overconcentrations: - Manufacturer Overconcentrations: - - Total Overconcentration Amounts: - = 33. (a) BRMT I Defaulted Amount for Collection Period: 62,~~363~~689,~~169~~850 (b) BRMT I Non-Principal Collections Collection Period: 14,~~263~~319,~~375~~334 (c) BRMT I Principal Collections Collection Period: ~~163~~159,~~750~~624,~~827~~158 (d) BRMT I Recovery Amount for Collection Period: 12,~~943~~673,~~370~~987 34. Total Defaulted Amount at end of Collection Period relating to non payment of at least $150 of interest due more than 90 days: 41,~~986~~654,~~434~~751 35. Amount of Receivable purchased by the trust at a discount during Collection Period: 1220,~~304~~229,~~406~~882 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

Aggregate Non-Principal Collections 14,263,375 Aggregate Principal Collections 163,750,827 Variable Funding Percentage (unweighted) 2.36% Distributions on the Variable Funding Certificate: Non-Principal Collection Distributions: 388,817 Principal Collection Distributions: 3,866,173 Variable Funding Amount as of the last day of the Collection Period: 74,504,935 Variable Funding Default Amount 288,619 Monthly Servicing Fee Due 53,929

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