Boeing Would Be Biggest Ever U.S. 'Fallen Angel' If Cut to Junk

S&P and Moody's are both considering downgrading the planemaker to junk. If they do, much of Boeing's $52 billion in outstanding long-term debt would be ineligible for inclusion in investment-grade indexes.

By Caleb Mutua | October 14, 2024 at 08:08 AM

Photo: The Boeing Co. stand on day two of the Farnborough International Airshow in Farnborough, UK, on July 23, 2024. Photographer: Hollie Adams/Bloomberg.

If cut to junk status, Boeing Co. will be the biggest U.S. corporate borrower to ever be stripped of its investment-grade ratings and forced to join junk bond indexes, flooding the high-yield market with a record volume of new debt to absorb.

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U.S. Companies Raising Billions in Debt Markets After Rate Cut

By Olivia Raimonde & Michael Tobin | September 23, 2024

The average yield in the U.S. investment-grade and high-yield bond markets fell following the Fed's move, making borrowing more attractive for issuers.

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Firms Pile into Bond Market in Busiest Day on Record

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