Fitch Ratings has affirmed Boeing’s Long-term Issuer Default Rating (IDR) at ‘A’ and Short-term IDR at ‘F1’. Fitch has also affirmed Boeing Capital Corporation’s (BCC) Long-term IDR at ‘A’. The Rating Outlook is Stable. Fitch states that credit risks from M&A activity have been rising as a result of potential strategic transactions, as illustrated by the pending KLX acquisition and BA’s ongoing discussions with Embraer. These M&A risks are mitigated by BA’s substantial cash generation (estimated post-dividend FCF of $8.0-9 billion annually), sizable liquidity position, and low leverage for the current rating. Fitch calculates BA’s current leverage (adjusted debt to

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