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As of April 26, 2024, Boeing's (BA) credit rating is BBB-. However, the company is at risk of a downgrade to a speculative grade, or junk rating, from both Moody's and S&P Global Ratings. Here's some more information about Boeing's credit rating:
- Boeing's unsecured debt has been rated Baa3 since April. Moody's is reviewing the rating and may downgrade it due to the potential impact of a prolonged strike on the company's cash flow and production.
- S&P placed Boeing on CreditWatch negative, which indicates an increased likelihood of a downgrade. S&P estimates that Boeing will have a cash outflow of around $10 billion in 2024 and may need to raise more funds.
Boeing's finances are under pressure due to a number of factors, including:
- A strike by factory workers that has lasted more than six weeks
- A mid-air incident in January where a door panel came off a 737 MAX jet
- A large debt pile of $60 billion
- A commitment to issue $4.7 billion of shares to acquire Spirit AeroSystems and assume its debt
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