Boeing Co.'s (NYSE:BA) problems continue as Moody's Ratings downgraded the plane-maker’s credit score.
What Happened: Moody’s lowered the score on Boeing's unsecured debt to Baa3 from Baa2, according to a report published Wednesday. Ba2 is the lowest possible investment-grade rating.
The negative rating outlook concludes a review initiated on March 26. Moody’s cited Boeing’s failure to meet expected levels of free cash flow generation due to underperformance in its flagship commercial airplanes segment.
The agency highlighted that this underperformance will likely impact Boeing’s ability to meet upcoming debt maturities in 2025 and 2026.
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Why It Matters: Boeing brass likely saw this coming as they’re currently reeling from a ...