S&P removes investment grade from Embraer to BB

S&P cut Embraer’s rating from BBB- to BB +, with which the company lost the investment grade for that agency. Embraer is expected to experience a drop of around 50% in its commercial jet deliveries in 2020, which will lead to “significantly weaker” profitability and a “cash burn” of about $ 800 million because of the effects of covid-19.

Source: UOL Economia