Boeing shares slid Monday after Fitch Ratings turned negative on the maker of the 737 Max, the manufacturer’s best selling plane that has been grounded since March after two fatal crashes.
Boeing’s stock was down 1.2% in morning trading, keeping a lid on the Dow Jones Industrials’ gains for the day.
Fitch upheld Boeing’s credit rating but warned that its debt could rise by $10 billion to more than $24 billion by the end of the year because of the Max grounding. It added that this amount would fall when deliveries of the planes resume.
Boeing paused deliveries of the Max and cut production by nearly 20% to 42 a month in the wake of the second crash.
Chicago-based Boeing reports second-quarter earnings on Wednesday morning.
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