May 31 (Reuters) - Fitch Ratings lowered its 2024
forecasts for Boeing's ( BA ) aircraft delivery and free cash
flow on Friday as the planemaker grapples with investigations
and slumping production of its strongest-selling jet.
"The delivery forecasts were affected by the Civil Aviation
Administration of China's (CAAC) decision to restrict certain
aircraft model deliveries to Chinese customers while it requests
additional documentation regarding voice recorder and battery
information," Fitch said.
The forecast revision also reflects the Federal Aviation
Administration's decision to maintain oversight within Boeing's ( BA )
factories while individually certifying newly produced aircraft,
the agency said.
The rating agency forecasts between 350-370 737 MAX
deliveries and about 65-70 787 deliveries in 2024, below
previous expectations of about 400 and 75, respectively.
Fitch also expects modestly negative free cash flow during
2024, compared to previous expectations of breakeven to
positive.
Fitch does not currently expect these adjustments to result
in rating changes.