PARIS (Standard&Poor's CreditWire) July 17, 2000--Following the June 14, 2000, announcement by BAe Systems PLC (BAe) that it has reached a definitive agreement to acquire Lockheed Martin Corp.'s (BBB-/Stable/A-3) Aerospace Electronics Systems (AES) for US$1.67 billion, Standard&Poor's today affirmed its single-'A' long-term and 'A-1' short-term ratings on BAe and guaranteed related entities, including the parent's long- and short-term corporate credit, senior unsecured debt, and commercial paper ratings. The outlook remains stable. A complete list of ratings is available on RatingsDirect, Standard&Poor's on-line credit research service, or by calling the Standard&Poor's ratings desk at (33) 1-4420-6705. This wholly debt-financed acquisition strengthens BAe as a major player in the global defense market, notably in
