Badly bruised by a pandemic that's affected its key commercial aircraft business, Boeing (NYSE: BA) is apparently trying to secure a new $4 billion credit facility from a syndicate of banks led by Citigroup. That's according a report from Bloomberg published on Thursday and citing "people with knowledge of the matter." The article's sources said that the company could exercise an option to increase the facility to as much as $6 billion. Image source: Getty Images. This would not be the first instance in recent times that Boeing has tapped creditors for billions of dollars in financing. Last year, in between the disastrous pair of crashes of its 737 Max aircraft and the onset of the coronavirus pandemic, the company took out a massive $13.8 billion delayed-draw term loan. Those funds were accessed almost immediately as the outbreak began to spread and commercial flights started to be grounded. At the moment, Boeing is sitting atop roughly $9.5 billion in unused revolving debt. These funds are available in three tranches at respective 364-day, three-year, and five-year portions. There's some urgency to the company securing solid, additional debt financing. Previously a highly rated debtor, Boeing's borrowings are now judged to be BBB- by two key rating agencies, S&P Global Ratings and Fitch. That's only one level above debt considered to be junk. Boeing hasn't commented on the story. The company's shares sank on Friday, slipping by 0.7% against the nearly 2% gain of the frothy S&P 500 index on the day. 10 stocks we like better than BoeingWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Boeing wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of February 24, 2021 Eric Volkman has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.Source