May 23 (Reuters) - Boeing's ( BA ) cash flow situation is

incrementally worse than their expectations, an S&P Global

Ratings analyst said, after the company said it would be

cash-flow negative in 2024.

Boeing ( BA ) currently has a BBB- rating from S&P, one level above

"junk" status, with a negative credit rating outlook. The rating

agency changed that outlook in April to "negative" from "stable"

due to the increased chance that it will take more time for cash

flow to recover.

On Thursday, Boeing ( BA ) Chief Financial Officer Brian West said

full-year cash flow would be negative for 2024, rather than

modestly positive as it forecast in March.

"It's certainly not good news. We were already expecting

this year would be below our financial expectations for the

rating and this is incrementally worse," Ben Tsocanos, airlines

director at S&P Global Ratings, said in a statement to Reuters.

"We're focused on the company's progress towards a healthy level

of aircraft production going into next year."