NY -- Standard&Poor's CreditWire 4/9/98 -- Standard&Poor's today placed its long-term ratings on Boeing Co. and units (see table below) on CreditWatch with negative implications. At the same time, Standard&Poor's affirmed its 'A-1'-plus short-term corporate credit rating on Boeing Co. and its 'A-1'-plus commercial paper rating on Boeing Capital Corp. These ratings are not on CreditWatch. The action is based on Boeing's continued production difficulties and their adverse impact on profitability, as evidenced by a recently announced first quarter $350 million pretax charge on the next generation 737 program. Furthermore, there is potential for additional charges to earnings on this program as the production rate is scheduled to triple to 21 airplanes per month
