Moody's downgrades Embraer

Moody's Investors Service said it downgraded its ratings for Embraer SA and its subsidiaries (Embraer Overseas Ltd. and Embraer Netherlands Finance BV; collectively Embraer), including the company's corporate family rating and senior unsecured debt ratings, each to Ba2 from Ba1. The outlook is negative.

The downgrades end the review for upgrade started on Feb. 1.

“The downgrades to Ba2 follow the termination of the master transaction agreement with the Boeing Co. (Baa2/negative) that would have created a joint-venture focused on commercial aviation containing Embraer's commercial aviation and services segments,” Moody’s said in a press release.

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