S&P puts Spirit AeroSystems on watch

S&P said it affirmed and placed its ratings for Spirit AeroSystems Inc. on CreditWatch with negative implications.

“The significant decline in air travel due to the coronavirus could result in lower demand from Spirit AeroSystems Inc.'s aircraft manufacturing customers, putting pressure on earnings and cash flow in 2020,” said S&P in a press release.

“We will resolve the CreditWatch placements when we have more information on possible production cuts by Boeing or Airbus, or further delays to the Boeing 737 MAX recertification or planned 2020 production due to the coronavirus,” the agency said.

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