...April 28, 2021 WASHINGTON D.C. (S&P Global Ratings) April 28, 2021--S&P Global Ratings today said Boeing Co.'s (###-/Negative/A-3) reported first-quarter 2021 financial results were largely in line with expectations and may indicate that the worst impact of the pandemic and 737 MAX grounding may be behind them. Although revenues were down from the same quarter in 2020 and flat with the fourth quarter of 2020, operating income and free cash flow improved compared with both periods. We believe earnings and cash flow should continue to improve as the year progresses. 787 and 737 deliveries should increase following recent pauses to address quality issues and global air travel is beginning to recover, which should help aftermarket demand. Liquidity remains strong with $21.9 billion of cash and $14.8 billion of available revolving credit facilities at the end of the quarter. However, there is still significant uncertainty to our forecast of funds from operations to debt increasing above 20%...
