Fitch changes Boeing’s outlook to negative
Credit rating agency Fitch Ratings announced that it changed Boeing’s outlook to ‘negative’, citing production and cash flow difficulties.
Fitch Ratings changed Boeing’s outlook from “stable” to “negative” amid the effects of the security crisis affecting the US aircraft manufacturer’s production and cash flow.
The rating agency confirmed the long-term issuer default rating as “BBB-“.
Fitch’s downgrade follows similar moves by S&P and Moody’s earlier in the week due to fluctuating cash flow.
Boeing was under intense regulatory scrutiny and reduced production of its 787 wide-body jets, along with the 737 MAX, after the cabin panel of a 737 MAX 9 flight operated by Alaska Airlines exploded in mid-air, forcing an emergency landing.