Fitch changes Boeing view

Fitch Ratings said it affirmed Boeing Co.'s BBB- long-term issuer default rating and F3 short-term issuer default rating.

The agency also affirmed the company’s senior unsecured ratings at BBB- and short-term commercial paper ratings at F3.

The outlook was revised to positive from stable.

The agency said the positive outlook reflects Boeing's declining inventory levels, improving production and delivery profile, growing backlog, and forecasted positive free cash flow that will facilitate debt repayment.

Fitch said it recognizes that recent supplier missteps will modestly delay previously expected operational and financial improvements but expects ongoing progress to lead to operational normalization and greater than $15 billion of gross debt repayment by year-end 2025.

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