S&P Global Ratings said it’s no longer considering cutting Boeing Co.’s debt to junk status, citing the planemaker’s $24 billion cash balance and other factors that give it a cushion to absorb future difficulties.
The ratings firm’s statement on Monday is the latest sign of progress in Boeing’s turnaround after a brutal 2024. The company last week posted first quarter results that exceeded analyst forecasts. In October, the company raised about $24 billion of equity, and a month after that a machinist union voted to end a crippling strike at the company’s factories.
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