03:19 PM EDT, 03/15/2024 (MT Newswires) -- (Adds background on FAA investigation; detail about ratings decision).

Boeing's ( BA ) credit outlook was lowered to stable from positive on Friday by Fitch Ratings, and the rating agency says it does not expect the aircraft manufacturer to reach its "positive triggers" until 2026.

Fitch on Friday also reaffirmed its current long-term and short-term issuer default ratings for Boeing ( BA ) at BBB- and F3, respectively.

Boeing ( BA ) has been grappling with several disruptions since a door plug on its 737-9 Max jetliner flown by Alaska Airlines (ALK) blew out midair on Jan. 5, prompting Federal Aviation Administration investigation.

In their report, the Fitch analysts said they believe those disruptions are "manageable," although production will likely continue at a slower pace at least through May when the company provides the FAA with its plan to address quality issues.

Overall, Fitch is projecting Boeing ( BA ) will deliver between 420 to 450 aircraft during 2024, down roughly 100 planes from pre-incident projections. But working in favor of Boeing ( BA ) is the $520 billion backlog, "providing several years of revenue visibility."

Boeing ( BA ) shares were more than 1% higher Friday afternoon.

Price: 183.65, Change: +2.50, Percent Change: +1.38