09-May-2024
Corporate News
 
Fitch Downgrades Boeing's Outlook to 'Negative' on Production, Cashflow Challenges
27-Apr-2024

Fitch Ratings downgraded outlook on Boeing to "negative" from "stable" on Friday, amid a fallout from safety crisis impacting the U.S. planemaker's production and cashflow. The ratings agency, which reaffirmed its "BBB-" long-term issuer default rating, said it could stabilize the outlook if Boeing liquidates over 100 of its pre-2023 built 737 MAX and half of its 787 inventories by early 2025, along with increasing production of its MAX jets towards 38 per month. Fitch's downgrade follows similar moves by S&P and Moody's earlier in the week on its bumpy cashflow.

News Source:- https://money.usnews.com/investing/news/articles/2024-04-26/fitch-downgrades-boeings-outlook-to-negative-on-production-cashflow-challenges