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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