Boeing at Risk of Junk Debt Rating at S&P as Strike Goes On (3)

S&P Global Ratings is looking at downgrading Boeing Co.’s credit grades to junk, citing the planemaker’s growing cash needs as it suffers from a strike by machinists that looks increasingly likely to wear on.

The credit grader estimated that Boeing will burn through about $10 billion of cash in 2024. The company is likely to require additional funding to meet its day-to-day cash needs and finance debt maturities, according to a statement from the ratings firm on Tuesday. Boeing is considering raising at least $10 billion by selling shares, Bloomberg reported earlier this month, as it tries to maintain ...