NY -- Standard&Poor's CreditWire 12/3/1998 -- Standard&Poor's today lowered its ratings on Boeing Co., Boeing Capital Corp., and McDonnell Douglas Corp. (see list below). The rating outlook for Boeing Co. and McDonnell Douglas Corp. is revised to stable from negative. The rating outlook for Boeing Capital Corp. remains developing. The downgrades reflect Boeing's reduced prospects for earnings and cash flow generation, following announcement of lower production rates for most of its jetliners. Serious economic and financial difficulties in Asia have significantly reduced demand for the firm's airplanes from airlines serving that important region. The greatest impact is on wide-body aircraft, especially Boeing's most profitable 747 model. A material decline in sales in 2000 would end the
