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Boeing CEO Appears To Take Responsibility

CREDIT UPDATE

Boeing (BA US) CEO put out a public stmt overnight where he appeared to take a lot of responsibility for the MAX9 blowout from Friday.



  1. CEO Calhoun talked about "acknowledging our mistake" as well as approaching the investigation with 100% transparency.
  2. Boeing equity only fell another 2% during US trading yesterday and its benchmark 2.196% '26 bond BN871558 Corp (rated Baa2[S]/BBB-[S]/BBB-[P]) is only trading 13bp wider on the week. This is little changed from similar Northrop and Raytheon debt... though, compared with (better rated: A2[S]/A[S]/A-u[S]) Airbus debt (its most liquid line: BJ814522 Corp ) Boeing has given up nearly 30bp of spread.

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