Fitch downgrades Embraer’s rating to BB+ and company loses investment grade

Fitch downgraded Embraer’s rating from BBB- to BB+, with which the company lost the investment grade for that agency. The move reflects “strong headwinds” for the civilian assessment industry because of the coronavirus. In addition, she comments that the cancellation of the agreement with Boeing will translate into “additional challenges” for the Brazilian company’s medium to long-term competitive position.

Source: Isto É