Fitch affirms Boeings’s long-term ratings at 'A'January 18, 2013 - 12:46 AMT PanARMENIAN.Net - Fitch Ratings has affirmed the 'A' long-term and 'F1' short-term Issuer Default Ratings (IDRs) for The Boeing Company (BA) and Boeing Capital Corporation (BCC). The Rating Outlook is Stable. The ratings cover approximately $10.5 billion of debt ($7.9 billion at BA and $2.6 billion at BCC), Business Wire said. The Stable Outlook reflects BA's substantial liquidity, debt reduction, financial flexibility, and non-787 commercial backlog, all of which offset the substantial risks in the 787 program, which is Fitch's main concern. The grounding of the 787 fleet will hurt BA's profitability and cash flow, but the company has the financial strength to withstand negative developments in the program. The timing of the resolution of the 787 fleet grounding is Fitch's key watch item, and a disruption to the program beyond several months could lead to a Negative Outlook Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Russia provides info about arrested Armenian ex-MP Russian law enforcement agencies have provided information about the arrest of Tigran Urikhanyan. Lemkin Institue slams Pashinyan's “cryptic engagement with Genocide denial” The Lemkin Institute is alarmed over Pashinyan’s statements “questioning Armenia's legal basis to pursue justice against Turkey”. 41 detained as antigovernment protests continue in Yerevan 41 people were detained in Yerevan as people demanding Pashinian’s resignation stage campaigns of civil disobedience. Armenia votes for UN resolution granting Palestine new rights The U.N. General Assembly voted by a wide margin on May 10 to grant new “rights and privileges” to Palestine. |