Boeing taps debt market to raise $10 billion

Boeing (BA.N) on Monday tapped debt markets to raise $10 billion, after the US planemaker burned $3.93 billion in free cash during the first quarter following slowing production of its best-selling jet, sources familiar with the matter said.

Boeing’s credit rating hovered above “junk” status last week from rating agencies as the planemaker tries to recover from a crisis that began in January after a midair blowout of a cabin panel door plug on a nearly new 737 MAX 9.

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