Boeing Co. has achieved a stable outlook on its credit rating, following S&P Global Ratings' affirmation of the company's 'BBB-' long-term credit rating. This development suggests that Boeing is not at immediate risk of being downgraded to junk status, reflecting improvements in its financial stability, as reported by cbonds.com.
In an effort to strengthen its liquidity and meet debt obligations, Boeing has successfully raised approximately $19 billion through common stock and depositary share offerings, according to information from AP News. However, to combat ongoing financial challenges, the aerospace giant announced plans to cut 17,000 jobs, representing about 10% of its global workforce, and delay the first deliveries of its 777X jet by a year, as covered by Reuters.
Recently, Boeing has been actively addressing labor issues that posed risks to their financial standing. Reuters noted that the resolution of a significant strike involving 33,000 workers, which had previously disrupted operations, has been part of these efforts. These combined strategies indicate a focus on stabilizing financial operations and mitigating risks impacting its credit rating.
