The Traderszone Network

Published in TZ Latest News 4 August, 2015 by The TZ Newswire Staff

Exclusive: Boeing loses large satellite deal due to trade credit woes – sources

Boeing Co (BA.N) is scrambling to find alternate financing for a satellite contract worth “several hundred million dollars” that was scuttled by privately held commercial satellite provider ABS due to uncertainty about the future of the U.S. Export-Import Bank, three sources familiar with the matter said on Tuesday. ABS told Boeing, the largest U.S. exporter, that it would have to consider non-U.S.-based producers to build ABS-8, given the absence of U.S. export credit financing, the sources said.

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