NEW YORK (Standard&Poor's) Feb. 20, 2003-- BAE Systems PLC reported its 2002 results and the agreement with the U.K. Ministry of Defence (MoD) to revise terms for the Nimrod marine patrol aircraft and the Astute attack submarine contracts. Standard&Poor's Ratings Services said today that its ratings, including the 'A-' long-term corporate credit rating, on BAE Systems remain on CreditWatch with negative implications, where they were placed on Dec. 12, 2002. The revisions, which resulted in combined pretax charges of £750 million (£572 million after tax) to recognize the additional cost to complete these programs under the new contract terms, led to a net loss of £686 million in 2002. U.K.-based BAE Systems' other operations performed close
