Boeing Company (The) -- Moody's: Emirates' $56 Billion 777X Order is Credit Positive for Boeing

New York, July 10, 2014 -- Moody's Investors Service said that yesterday's firm order by Emirates (unrated) for 150 of the forthcoming (2020) new 777X jets from The Boeing Company (A2 stable), valued at approximately $56 billion based on list prices for the two variants (35 777-8Xs and 115 777-9Xs), is a credit positive development for the large airframer. The order includes purchase rights for an additional 50 airplanes that, if exercised, could increase its value to approximately $75 billion at list prices, according to the company. Moody's noted that the order is also credit positive for General Electric Company (Aa3 stable) as the sole-source engine provider on the program, as well as other key suppliers.

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