Boeing's $19 Billion Stock Offering Amid Strikes

Boeing launched a stock offering to raise up to $19 billion, aiming to strengthen its finances affected by a prolonged workers' strike. The move is crucial to maintain its investment-grade credit rating amid production halts and financial losses. The company hopes to avoid a ratings downgrade.

Boeing has announced a stock offering that could raise up to $19 billion. The aerospace giant aims to bolster its financial standing, which has been hard-hit by a prolonged strike involving 33,000 workers.

The company plans to issue 90 million shares in common stock and $5 billion in mandatory convertible securities. This major financial move comes as Boeing faces significant financial strain, with its stock dipping in volatile premarket trading.

With $1 billion in monthly losses from the strike, Boeing is keen to preserve its investment-grade credit rating. The company has also entered a $10 billion credit agreement with banks, highlighting its strategic financial maneuvers to avoid a potential ratings downgrade.

(With inputs from agencies.)