Boeing’s purchase of most of Embraer’s commercial aircraft business and rights to sell military KC-390s may be a boon to the former, already the world’s largest aerospace and defense provider, but credit analysts say it will leave the Brazilian airplane maker with a weaker financial profile for the near future. “If the transaction is completed as proposed, Embraer’s business will be narrowed to its executive jet and defense units, which have lower margins and ...

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