Boeing Says 'Further Negotiations Do Not Make Sense' After Striking Workers Force S&P To Place Planemaker's Credit Rating On Negative Watch (CORRECTED)
Portfolio Pulse from Benzinga Neuro
Boeing Co. (NYSE:BA) has halted negotiations with striking workers after failed attempts to reach an agreement, leading to a negative watch on its credit rating by S&P Global Ratings. The strike, now in its fourth week, could result in $10 billion cash outflows in 2024. Additionally, Boeing faces safety concerns with the FAA issuing an alert on potential rudder system jams on Boeing 737 airplanes.
October 09, 2024 | 10:40 am
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NEGATIVE IMPACT
Boeing's halted negotiations with striking workers have led to a negative watch on its credit rating by S&P Global Ratings. The ongoing strike could result in significant cash outflows and is compounded by safety alerts from the FAA.
The ongoing strike and halted negotiations indicate unresolved labor issues, leading to operational disruptions and financial strain. S&P's negative watch on Boeing's credit rating reflects potential cash outflows and increased financial risk. Additionally, FAA's safety alerts on Boeing 737 airplanes add to the company's challenges, likely impacting investor sentiment negatively.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100