Boeing Dumps After Moody's Downgrade To One Notch Above 'Junk' [zero hedge]
Boeing Company (The) (BA)
Last boeing company (the) earnings: 4/29 07:30 am
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Source: zero hedge
Boeing Dumps After Moody's Downgrade To One Notch Above 'Junk' Update (1420ET) : Moody’s Ratings downgraded Boeing’s credit rating to Baa3 from Baa2 - just one notch above 'junk' status (with a negative rating outlook) - with headwinds related to the Commercial Airlines segment expected to persist at least through 2026 The downgrades reflect the inadequate performance of Boeing's Commercial Airplanes segment ("Commercial Airplanes"), which has prevented free cash flow generation from reaching the levels Moody's had previously expected. The negative outlook incorporates Moody's view that the headwinds buffeting Commercial Airplanes will now persist at least through 2026. Annual free cash flow will fall short of the $4.3 billion of debt coming due in 2025 and also the $8.0 billion coming due in 2026. Moody's anticipates that Boeing will issue new debt to fund these shortfalls. The pace at which Commercial Airplanes improves will dictate how much of any new debt will be used for funding
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BA
Earnings
- 4/24/24 - Beat
BA
Sec Filings
- 5/3/24 - Form 8-K
- 5/1/24 - Form PX14A6G
- 4/24/24 - Form PX14A6G
- BA's page on the SEC website