One of two global producers of large commercial aircraft Cyclical market that is currently experiencing strong demand One of the five largest U.S. defense contractors, but U.S. defense spending is declining Substantial investments required to develop new commercial aircraft Credit ratios that are appropriate for the rating Growing cash flows as aircraft production increases Exceptional liquidity Significant postretirement liabilities Expected to repurchase stock for the first time since 2008 Standard&Poor's Ratings Services' outlook on Boeing Co. is stable. Increasing commercial airplane deliveries should result in solid revenues and earnings growth in the next few years, although margins will likely be stable. Cash generation should also improve materially as production increases and the company delivers 787 and 747-8 inventory.
