Boeing Co. reported increasing and more stable 737 MAX production and a smaller-than-expected cash usage in the first quarter. The company appears on track to recovering from the 2024 strike-driven production halt and persistent manufacturing quality problems. We estimate that Boeing has increasing capacity to absorb unexpected headwinds risks to sustainably higher production and to near-term aircraft deliveries, including those posed by tariffs and counter-tariffs with the U.S. and its trading partners. As a result, we removed our ?BBB-? issuer and issue-level credit ratings from CreditWatch where we placed them on with negative implications on Oct. 8, 2024. At the same time, we also removed the ?A-3? short-term and commercial paper ratings from CreditWatch We assigned a negative outlook to
