Reported about 6 hours ago
S&P Global Ratings is considering downgrading Boeing's credit rating to junk status amidst an extended strike by machinists which has exacerbated the company's financial challenges. Boeing is projected to deplete around $10 billion in cash during 2024 while struggling to meet its day-to-day cash needs as production has come to a halt. The ongoing strike is costing Boeing over $1 billion per month and has delayed its production targets, raising concerns about its financial stability and future borrowing costs.
Source: YAHOO