Fitch Ratings downgraded its outlook on Boeing (NYSE:BA) to Negative from Stable on Friday, within the wake of the protection disaster that has damage the corporate’s manufacturing and money circulation.
Fitch mentioned its Negative outlook motion follows Boeing’s (BA) feedback round restoring its money steadiness to $10B and staying forward of maturities and liquidity wants over the following 12 months, and displays heightened execution dangers because it eliminates legacy stock, stabilizes and will increase plane manufacturing charges and navigates seasonal money circulation volatility.
The rankings company reaffirmed Boeing’s (BA) BBB- long-term issuer default score.
Fitch’s downgrade follows related strikes by S&P and Moody’s earlier this week.