...October 29, 2020 WASHINGTON D.C. (S&P Global Ratings) Oct. 29, 2020--S&P Global Ratings today assigned its '###-' rating to Chicago-based aircraft manufacturer and defense contractor Boeing Co.'s proposed senior unsecured notes. The company plans to issue the notes in tranches due 2024, 2026, 2028, and 2031. We expect Boeing to use the proceeds for general corporate purposes, including refinancing approximately $2.8 billion of commercial paper and notes maturing by year-end 2021. This transaction will bolster liquidity and does not materially change our expected credit measures. Boeing's revenues, earnings, and cash flow continue to be severely impaired by the lower air travel and aircraft demand caused by the pandemic, and the ongoing 737 MAX grounding. The company is maintaining the lower production levels it announced earlier this year, but could reduce production further, especially on the 787, if air travel does not improve as expected. Production levels are still likely to exceed...
