One of two global producers of large commercial aircraft. Cyclical commercial market, which is currently experiencing solid demand. One of the five largest U.S. defense contractors, with a likelihood of rising U.S. defense spending. Substantial investments required to develop new commercial aircraft. Stable credit ratios after 2018, as growing earnings and cash flow are offset by a high level of shareholder returns and likely acquisitions. Exceptional liquidity. Significant postretirement liabilities. S&P Global Ratings' stable outlook on Boeing Co. reflects its expectation that credit measures will deteriorate in 2018 due to the likely increase in debt to fund the pending KLX acquisition. Thereafter credit ratios should be fairly stable as improving cash generation is offset by significant shareholder rewards and additional
