Fitch revises Boeing's outlook to negative, but affirmed Boeing's 'BBB-' long-term issuer default rating and 'F3' short-term idr
- Fitch says outlook incorporates expectation that Boeing could issue new debt to de-risk early-2025 cash flow risks and bolster financial flexibility.
- Fitch on Boeing has also affirmed Cos. long-term unsecured notes and revolvers at 'BBB-' and CP programme at 'F3.
- Negative outlook reflects Boeing's heightened execution risks over next 12 to 24 months.
Analysis details (19:27)
- On Wednesday, Moody's cut Boeing to Baa3 from Baa2 by Moody's; outlook negative.
- Baa3 is the lowest rating grade at Moody's above the "junk" category. Boeing is rated BBB- at both S&P and Fitch, also their lowest rating grade above "junk". Boeing has USD 47bln of long term debt, according to its earnings report filing.
26 Apr 2024 - 19:25- Important- Source: Newswires
Subscribe Now to Newsquawk
Click here for a 1 week free trial
Newsquawk provides audio news and commentary for over 15,000professional traders and brokers worldwide. Services include:
- Real-time audio coverage from 0630 to 2200 London time plus Asia-Pac 2200 to 1000 London time
- Teams of analysts covering equities, fixed income, FX, energy, and metals markets
- Real-time scrolling news service with instant analysis
- Daily and weekly pre-market research and calendars
- Video updates covering near-term key risk events & primary trading themes
- One-to-one chat with our expert analysts