Boeing: Moody's downgrades rating, outlook stable
(CercleFinance.com) - Moody's Investors Service has downgraded Boeing's senior unsecured rating on Thursday, citing the extension of the grounding of the 737 MAX.
The Chicago-based planemaker was downgraded one notch, to "A3" from "A2."
The downgrade follows the extension of the grounding of the 737 MAX into 2020, as well as the announced plan to shut down the program for some interim period, the agency said.
In a note, Moody's warns against the uncertainty and high risk - both financial and operational - for Boeing and its broader supply chain over the coming months.
Moody's also downgraded the company's short-term debt, to "Prime-2" from "Prime-1."
The outlook was changed to "stable" from "negative", meaning that Moody's won't cut its ratings further any time soon.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The Chicago-based planemaker was downgraded one notch, to "A3" from "A2."
The downgrade follows the extension of the grounding of the 737 MAX into 2020, as well as the announced plan to shut down the program for some interim period, the agency said.
In a note, Moody's warns against the uncertainty and high risk - both financial and operational - for Boeing and its broader supply chain over the coming months.
Moody's also downgraded the company's short-term debt, to "Prime-2" from "Prime-1."
The outlook was changed to "stable" from "negative", meaning that Moody's won't cut its ratings further any time soon.
Copyright (c) 2019 CercleFinance.com. All rights reserved.