Boeing’s long-term credit rating was downgraded two notches at Fitch Ratings, which cited the “rapid escalation” of the coronavirus pandemic and the effect it’s having on the airframe makers business. Boeing’s rating is still investment grade but now hovers just two levels over “junk” status. Fitch lowered the rating to BBB from A-. Additionally the outlook for the rating is negative, given the risks of a more extended coronavirus pandemic, ongoing risks related to the timing of the return to service of the currently grounded 737 MAX planes and the expected pace of the 737 MAX delivery ramp once the grounding
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