VIA EDGAR TRANSMISSION

       27-Apr-00

SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-K

Annual Report Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934

For the Fiscal Year Ended December  31, 1999

Commission File Number 33-69282

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,  the  Floating  Rate Class B Asset Backed  Certificates,  Series
1997-1.

Delaware                                         03-6059105
(State or other jurisdiction                     (IRS Employer
of Incorporation)                                Identification No.)

1600 Mountain View Drive, Colchester, Vermont                   5446
(Address of principal executive offices)                     (ZIP code)

Registrant's telephone number, including area code:          (802) 655-2824


Securities registered pursuant to Section 12(b) of the Act:
                 Title of each class                             None
                 Name of each exchange on which registered       Not Applicable

Securities registered pursuant to Section 12(g) of the Act:      None

Registrant (1) has filed all reports required to be filed by Section 13 or 15(d)
of the  Securities  Exchange Act of 1934 during the  preceding 12 months and (2)
has been subject to such filing requirements for the past 90 days.
                               Yes:  X                    No:

Page 1 of 11
Exhibit Index Appears on Page 6
Part I.
Item 1.          Nothing To Report.

Item 2.          Properties

For  information  regarding the property of the Trust and regarding the Floating
Rate Class A Asset Backed Certificates,  Series 1997-1 (the "Series 1997-1 Class
A Certificates") and the Floating Rate Class B Asset Backed Certificates, Series
1997-1  (the  "Series  1997-1  Class B  Certificates"),  see the 1999  AGGREGATE
DISTRIBUTION  DATE STATEMENT filed as Exhibit 99.1 to this Annual Report on Form
10-K.

Item 3.          Legal Proceedings

                 Nothing To Report.

Item 4.          Submission of Matters to a Vote of Security Holders

                 Nothing To Report.

Part II.
Item 5.   Market for Registrant's Common Equity and Related Stockholder Matters

                 The outstanding  Class A Certificates  and Class B Certificates
                 are  held  and  delivered  in   book-entry   form  through  the
                 facilities of the Depository Trust Company ("DTC"), a "clearing
                 agency" registered pursuant to the provisions of Section 17A of
                 the   Securities   Exchange  Act  of  1934,  as  amended.   All
                 outstanding   definitive  Class  A  Certificates  and  Class  B
                 Certificates  are  held by CEDE and Co.,  the  nominee  of DTC.
                 There  is  no  established  trading  market  for  the  Class  A
                 Certificates or the Class B Certificates.

Item 6.          Nothing to Report

Item 7.          Nothing to Report

Item 8.          Financial Statements and Supplementary Data

                 Reference  is made to the  exhibits  filed as Exhibit  99.2 and
                 Exhibit 99.3 to this Annual Report on Form 10-K.

Item. 9.         Changes in and Disagreements with Accountants on Accounting
                 and Financial Disclosure

                 Nothing to Report

Part III.
Item. 10.        Nothing to Report

Item. 11.        Nothing to Report

Item 12.          Security Ownership of certain Beneficial Owners and Management

     Bombardier Capital Inc. holds 100 % of the 1,000 outstanding shares and has
                 sole voting power and sole investment power.


Item 13.         Certain Relationships and Related Transactions

                 Nothing to Report

Part IV.
Item 14.      Exhibits, Financial Statements Schedules, and Reports on Form 8-K

                 (a) Exhibits:

            99.1 1999 Series 1997-1 AGGREGATE DISTRIBUTION DATE STATEMENT
            99.2 1999 ANNUAL SERVICER'S CERTIFICATE
            99.3 1999 ANNUAL REPORT OF INDEPENDENT
                 ACCOUNTANTS ON COMPLIANCE

                 (b) Reports on Form 8-K:

                 Currents  reports on Form 8-K are filed  with-in  fifteen  (15)
                 days after each monthly  distribution with respect to the Class
                 A  Certificates  and the  Class  B  Certificates.  The  reports
                 include, as an exhibit, the monthly Distribution Date Statement
                 with  respect  to the  Class A  Certificates  and  the  Class B
                 Certificates.

                 Current Reports on Form 8-K were filed on:
                                   26-Feb-99                           26-Aug-99
                                   29-Mar-99                           29-Sep-99
                                   30-Apr-99                            2-Nov-99
                                   28-May-99                            1-Dec-99
                                   17-Jun-33                           23-Dec-99
                                   30-Jul-99                           28-Jan-00

 Signatures

                 Pursuant  to the  requirements  of  Section  13 or 15(d) 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.

                               BOMBARDIER CREDIT RECEIVABLES CORPORATION

                 By:           /s/Blaine Filthaut
                 Name:         Blaine Filthaut
                 Title:        Treasurer
                 Date:             27-Apr-00

                 Pursuant to the requirements of the Securities  Exchange Act of
                 1934,  this report has been signed by the following  persons on
                 behalf of the registrant and in the capacities and on the dates
                 indicated.

                 Signature


By:              /s/Pierre Lortie
Name:            Pierre Lortie
Title:           President
                 (Principal Executive Officer)
Date:                27-Apr-00


By:              /s/Blaine Filthaut
Name:            Blaine Filthaut
Title:           Treasurer
                 (Principal Financial and Accounting Officer)
Date:                27-Apr-00


By:              /s/Pierre Lortie
Name:            Pierre Lortie
Title:           Director
Date:                27-Apr-00


By:              /s/Frank Killackey
Name:            Frank Killackey
Title:           Director
Date:                27-Apr-00


By:              /s/Blaine Filthaut
Name:            Blaine Filthaut
Title:           Director
Date:                27-Apr-00


By:              /s/R. William Crowe
Name:            R. William Crowe
Title:           Director
Date:                27-Apr-00


By:              /s/Margaret L. Montgomery
Name:            Margaret L. Montgomery
Title:           Director
Date:                27-Apr-00


By:              /s/Helen C. Rowan
Name:            Helen C. Rowan
Title:           Director
Date:                27-Apr-00

By:              /s/Donald L. Rushford
Name:            Donald L. Rushford
Title:           Director
Date:                27-Apr-00


 Exhibit Index

                                                                   Page number
                                                                   in sequential
Exhibit No.                                                        number System

            99.1 1999 Series 1997-1 AGGREGATE DISTRIBUTION DATE STATEMENT     6
            99.2 1999 ANNUAL SERVICER'S CERTIFICATE                           9
            99.3 1999 ANNUAL REPORT OF INDEPENDENT                           10
                 ACCOUNTANTS ON COMPLIANCE

Exhibit 99.1
Bombardier Credit Receivables Corporation
Bombardier Capital Inc. as Servicer
DISTRIBUTION DATE STATEMENT  Series 1997-1
For the Calendar Year:                               1999
1 Amount of principal paid or distributed:
<TABLE>
<CAPTION>
<S>                                                                                                    <C>
  (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                                          -
2Floating Allocation Percentage for such Collection Period (unweighted average):                      N/A
3 Principal Allocation Percentage for such Collection Period:                                         N/A
4. Amount of interest paid or distributed:
  (a) Class A Certificates:                                                                 21,409,350.89
  per $1,000 original principal amount of Class A Certificates                                      53.52
  (b) Class B Certificates:                                                                  1,509,575.25
  per $1,000 original principal amount of Class B Certificates                                      55.65
5.(a) Series 1997-1 Investor Default Amount for such Distribution Date:                     11,265,418.04
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 as of 11/30/99                                                               976,912,122
11.  After giving affect to distributions on this Distribution Date:
  (a) Outstanding principal amount of Class A Certificates:                                   400,000,000
  (b) Outstanding principal amount of Class B Certificates:                                    27,125,000
  (c) Certificate Balance:                                                                    427,125,000
  (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:       N/A
       (2)  Net Receivables Rate                                                                      N/A
  (b) Class A Rate:                                                                                   N/A
  (c) Class B Rate:                                                                                   N/A
13.  (a) Amount of Monthly Servicing Fee for 1999                                               8,542,500
      (b) Series 1997-1 Excess Servicing Fee being distributed and remaining
balance (if any): 19,482,066
      (1) Distributed:                                                                         19,482,066
      (2) Balance:                                                                                      -
14.  Invested Amount on this Distribution Date (after giving effect to all
distributions
       which will occur on such Distribution Date):                                           427,125,000
15.  The Available Subordinated Amount (inclusive of incremental subordination)
             On the immediately preceding Distribution Date:                                          N/A
             On this Distribution Date:                                                               N/A
16.  The Incremental Subordinated Amount on the immediately preceding
Determination Date              N/A
             On this Distribution Date:                                                               N/A
17.  The Reserve Fund Balance as of 11/30/99:                                                   2,135,625
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
20. The minimum Collection Account balance with respect to this
Distribution Date:                    N/A
  Series 1997-1 Interest Payments on Class A Certificates                                             N/A
  Series 1997-1 Interest Payments on Class B Certificates                                             N/A
  Series 1997-1 Investor Defaults (to be remitted to BCI)                                             N/A
  Series 1996-1 Servicer Advances (to be remitted to BCI)                                             N/A
  Series 1996-1 Investor Defaults (to be remitted to BCI)                                             N/A
  Series 1997-2 Servicer Advances (to be remitted to BCI)                                             N/A
  Series 1997-2 Investor Defaults (to be remitted to BCI)                                             N/A
  Series 1997-2 Fees (to be remitted to ABN)                                                          N/A
  Collection Account Investment Proceeds (to be remitted to BCI)                                      N/A
  Series 1997-1 Reserve Fund Investment Proceeds (to be remitted to BCI)                              N/A
  Series 1996-1 Reserve Fund Investment Proceeds (to be remitted to BCI)                              N/A
  Series 1997-2 Reserve Fund Investment Proceeds (to be remitted to BCI)                              N/A
  Series 1997-1 Excess Fund Account Investment Proceeds (to be remitted to BCI)                       N/A
  Series 1996-1 Excess Fund Account Investment Proceeds (to be remitted to BCI)                       N/A
  Series 1997-2 Excess Fund Account Investment Proceeds (to be remitted to BCI)                       N/A
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:                                                                     N/A
      (Annualized three month average net losses)                                                     N/A
24. Three-Month Payment Rate for the three (3) most recent Collection Periods:                        N/A
A Three-Month Payment Rate Trigger has occurred:                                                       NO
25. Receivables Rate :                                                                                N/A
26. Inventory Aging of the Eligible Pool Balance as of the end of the Collection
 Period:
                           0-120 days                                                                 N/A
                          121-179 days                                                                N/A
                          180-269 days                                                                N/A
                          270-359 days                                                                N/A
                          360-479 days                                                                N/A
                          480 +                                                                       N/A
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 as of 11/30/99 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:                      N/A
      Cumulative amount of 491 Day Aged Receivables made Ineligible from:
                                             Aged IneligibOptional Removals:                      Put Limit:
          October 1, 1999 to January 31, 2000:        N/A                     $0                      N/A
      Has an Early Amortization Event Occurred:                                                        NO
</TABLE>
30. Principal Amount of Receivables subject to a Participation Interest as
of 11/30/99:     10,909,263.47
<TABLE>
<CAPTION>
<S>                                                                          <C>                       <C>
31. Product Line Breakdown                                           Test Level:                  Actual:
         Bombardier:                                                      45.00%                      N/A
         Marine:                                                          45.00%                      N/A
         Recreational Vehicles:                                           20.00%                      N/A
         CEA / Other:                                                     10.00%                      N/A
         Manufactured Housing:                                            45.00%                      N/A
         Lawn & Garden:                                                   10.00%                      N/A
                 Total:                                                                               N/A
</TABLE>
32. Overconcentration Amounts:
<TABLE>
<CAPTION>
<S>                                                                                                   <C>
      Designated Manufacturer Concentration:                                                          N/A
      Industry Overconcentrations:                                                                    N/A
      Dealer Overconcentrations:                                                                      N/A
      Manufacturer Overconcentrations:                                                                N/A
                 Total Overconcentration Amounts:                                                    N/A
33. (a) BRMT I Defaulted Amount for 1999:                                                      22,250,967
     (b) BRMT I Non-Principal Collections for 1999:                                           113,773,515
     (c) BRMT I Principal Collections for 1999:                                             2,123,967,479
     (d) BRMT I Recovery Amount for 1999:                                                      18,645,996
34. Total Defaulted Amount for 1999 relating to non payment
of at least $150 of interest due more than 90 days:                                            17,165,599
35. Amount of Receivable purchased by the trust at a discount for 1999:                       159,176,125
36. Has an automatic Addition of Accounts Occurred:                                                    NO
37. Pool data on Receivables added as Automatic Account Additions                                     N/A
</TABLE>
Prepared by:   Mr. John Quinn
Securitization Manager


                          ANNUAL SERVICER'S CERTIFICATE


                             BOMBARDIER CAPITAL INC.


                  --------------------------------------------------------


                      BOMBARDIER RECEIVABLES MASTER TRUST I
                                  (the "Trust")
                  --------------------------------------------------------


         The undersigned,  duly authorized representatives of Bombardier Capital
Inc. ("BCI), as Servicer,  pursuant to the Pooling and Servicing Agreement dated
as of January 1, 1994 (as amended and  supplemented,  the  "Agreement"),  by and
among Bombardier Credit Receivables Corporation ("BCRC"), as Depositor,  BCI, as
Servicer, and Bankers Trust Company, as Trustee, do hereby certify, on behalf of
BCI, that:

1.       BCI is, as of the date hereof, the Servicer under the Agreement.

2. The  undersigned are Servicing  Officers and are duly authorized  pursuant to
the  Agreement  to execute and deliver this  Certificate  to the Trustee and any
Enhancement Providers.

3. A review of the  activities  of the Servicer  during the calendar  year ended
December 31, 1999, and of its  performance  under the  Agreement,  was conducted
under our supervision.

4.  Based on such  review,  the  Servicer  has,  to the  best of our  knowledge,
performed in all material  respects all of its  obligations  under the Agreement
throughout  such  year  and no  material  default  in the  performance  of  such
obligations  has  occurred or is  continuing  except as set forth in paragraph 5
below.

5. The following is a description of each material default in the performance of
the Service's  obligations  under the provisions of the Agreement known to us to
have been made by the Servicer  during the year ended  December 31, 1999,  which
sets forth in detail the (a) nature of each such  default,  (b) the action taken
by the Servicer, if any, to remedy each such default, and (c) the current status
of each such default: none.

Capitalized  terms  used  but not  defined  herein  are used as  defined  in the
Agreement.


IN WITNESS  WHEREOF,  each of the undersigned has duly executed this Certificate
this ___ day of April, 2000.




                                                     BOMBARDIER CAPITAL INC.


                                                     By:/s/Blaine Filthaut
                                                            Blaine Filthaut
                                                            Treasurer



                                                     By: /s/Jean C. O'Neill
                                                           Jean C. O'Neill
                                                           Secretary


                         Independent Accountants' Report



  Board of Directors
  Bombardier Capital Inc.
  as Servicer
  1600 Mountainview Drive
  Colchester, VT  05446

  and

  Bankers Trust Company,
  as Trustee
  Four Albany Street
  New York, New York  10006

  Attention: Corporate Trust & Agency Group,
  Structured Finance Team



                      Bombardier Receivables Master Trust I


  We have examined management's  assertion,  included in the accompanying Report
  of Management on Compliance,  about Bombardier  Capital Inc., (The "Servicer")
  of compliance with the terms and conditions of Sections  3.01(d),  3.02, 3.04,
  3.05, 3.09, 4.02, 4.03, 4.04,  10.01(a),  10.01(b) and 10.01(e) of the Pooling
  and  Servicing  Agreement  dated as of January 1, 1994 (as amended,  modified,
  supplemented  or  interpreted  from  time  to  time,  the  "Agreement")  among
  Bombardier  Credit  Receivables  Corporation,  as  the  Depositor,  Bombardier
  Capital  Inc., as the Servicer,  and Bankers Trust  Company,  as Trustee as of
  January 31, 2000 and for the period from February 1, 1999 through  January 31,
  2000.  Management is  responsible  for the  Servicer's  compliance  with those
  requirements.  Our  responsibility  is to express  an opinion on  management's
  assertion about the Servicer's compliance based on our examination.



  Our  examination  was made in accordance  with  standards  established  by the
  American Institute of Certified Public Accountants and, accordingly,  included
  examining,  on a test basis,  evidence  about the Servicer's  compliance  with
  those  requirements  and  performing  such other  procedures  as we considered
  necessary in the  circumstances.  We believe that our  examination  provides a
  reasonable  basis for our opinion.  Our  examination  does not provide a legal
  determination on the Servicer's compliance with specified requirements.

  In our opinion, management's assertion that the Servicer was in compliance, in
  all material  respects,  with the terms and  conditions of the sections of the
  Agreement (as amended,  modified,  supplemented,  or interpreted  from time to
  time) as of January  31,  2000 and for the  period  February  1, 1999  through
  January 31, 2000, is fairly stated, in all material respects.

  This report is intended solely for your information and should not be referred
  to or  distributed  for any purpose to anyone who is not authorized to receive
  such  information  as  specified  in  the  Agreement  (as  amended,  modified,
  supplemented, or interpreted from time to time).


  Ernst & Young LLP

  March 29, 2000