...NEW YORK (S&P Global Ratings) Sept. 16, 2024--S&P Global Ratings today said the announcement that Boeing Co.'s (###-/Negative/A-3) machinist union rejected a contract offer and voted to strike does not immediately affect our issuer credit rating or negative outlook on the company. The strike will likely delay Boeing's recovery, including its goal of increasing Max production to 38 planes a month by the end of the year. We view the company's plans to increase and stabilize its aircraft production volumes as necessary for it to generate free cash flow. A shorter strike, on the order of weeks, would likely be manageable for Boeing and not lead to a negative rating action. However, we believe an extended strike would be costly and difficult to absorb, given the company's already strained financial position. We previously expected Boeing would generate sizable cash outflows in 2024 prior to the announcement of the strike. This reflects that the company is building up its working capital to support...
