Boeing Co.'s Proposed Senior Unsecured Notes Due 2022, 2026, 2034, And 2049 Rated 'A'

WASHINGTON D.C. (S&P Global Ratings) April 30, 2019--S&P Global Ratings today assigned its 'A' issue-level rating to Seattle-based aircraft manufacturer and defense contractor Boeing Co.'s (A/Stable/A-1) proposed senior unsecured notes. The company plans to issue the notes in four tranches due 2022, 2026, 2034, and 2049. Boeing plans to issue a total of around $2.5 billion in notes, including an add-on to its existing 3.2% notes due 2029, which were issued in February 2019. The 'A' rating on the 2029 notes is not affected by the proposed transaction. We expect that the company will use the proceeds from the proposed notes for general corporate purposes, including funding upcoming debt maturities ($1.4 billion coming due over the next 12 months), repaying

...April 30, 2019 WASHINGTON D.C. (S&P Global Ratings) April 30, 2019--S&P Global Ratings today assigned its 'A' issue-level rating to Seattle-based aircraft manufacturer and defense contractor Boeing Co.'s (A/Stable/A-1) proposed senior unsecured notes. The company plans to issue the notes in four tranches due 2022, 2026, 2034, and 2049. Boeing plans to issue a total of around $2.5 billion in notes, including an add-on to its existing 3.2% notes due 2029, which were issued in February 2019. The 'A' rating on the 2029 notes is not affected by the proposed transaction. We expect that the company will use the proceeds from the proposed notes for general corporate purposes, including funding upcoming debt maturities ($1.4 billion coming due over the next 12 months), repaying some commercial paper ($2 billion outstanding as of March 31, 2019), and funding recent acquisitions. Any remaining funds would bolster cash reserves as the company continues to deal with the 737 MAX grounding. We do not...

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