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Moody's Investors Service, Inc. (Moody's) assigned A2 ratings to the $1.5 billion of The Boeing Company's new senior unsecured notes announced earlier today. The Boeing Company (Boeing) will use the proceeds for general corporate purposes, which we believe could include terming out commercial paper borrowings, which were higher at the end of 2018 than 2017, partly because of the acquisition of KLX Inc. in October 2018 and for refinancing upcoming maturities. The A2 senior unsecured rating reflects Boeing's position as one of two manufacturers of large commercial airplanes and a prime US defense contractor.
Mario Gabelli (Trades, Portfolio), t he founder of Gabelli Asset Management, sold shares of the following stocks during the third quarter. Warning! GuruFocus has detected 6 Warning Sign with EL. The guru's KLX Inc. (KLXI) holding was closed.
Please refer to the Moody's Investors Service's Policy for Withdrawal of Credit Ratings, available on its website, www.moodys.com. KLX Inc. is a leading distributor of aerospace fasteners and other consumables and a leading provider of logistic services to the airline and aerospace industries.