Boeing Debt Rating Lowered

The downgrade reflects weak commercial aerospace business prospects and sizable unfunded pension and retiree medical liabilities

On May 15, 2003, Standard & Poor's Ratings Services lowered its ratings, including lowering the long-term corporate credit rating to 'A' from 'A+', on aerospace and defense contractor Boeing (BA ) and its subsidiary Boeing Capital. The ratings are removed from CreditWatch, where they were placed on Mar. 18, 2003. The 'A-1' short-term corporate credit and commercial paper ratings on Boeing and Boeing Capital were previously affirmed and were not on CreditWatch. The outlook is stable. Combined rated debt for both entities is about $14 billion.

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