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S&P lowers Boeing's credit rating on coronavirus hit to earnings, cash flow

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S&P Global on Wednesday lowered Boeing Co's credit rating closer to junk due to the expected impact of the coronavirus on the U.S. planemaker's earnings and cash flow over the next few years.

FILE PHOTO: The Boeing logo is displayed on a screen, at the New York Stock Exchange in New York, U.S., August 7, 2019. REUTERS/Brendan McDermid

S&P, which downgraded its rating to ‘BBB-/A-3’ from ‘BBB/A-2’, said it expects a significant decline in cash flow as Boeing tackles lower aircraft deliveries and aftermarket sales resulting from the impact of the coronavirus on air travel.

 

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Good reason for the stock to be higher again tomorrow? What a joke the Fed markets have become.

Nice try. The coronavirus didn’t cause them to screw up the 737 Max and they don’t get to take COVID relief funds to cover for it.

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