On March 7, 2005, Standard&Poor's Ratings Services affirmed its corporate credit and its other ratings, on Boeing Co. (A/Stable/A-1), following the announcement that the company's chief executive officer, Harry Stonecipher, has been dismissed for an inappropriate personal relationship with a female executive and that Boeing has appointed its chief financial officer, James Bell, as an interim CEO. The outlook is stable. Outstanding debt is about $5 billion, excluding debt at Boeing Capital Corp. (A/Stable/A-1). Although the ratings are affirmed, the departure of the CEO creates some uncertainties and is a further embarrassment to the company, following a number of adverse developments in recent years. One of Mr. Stonecipher's top priorities was to restore Boeing's reputation with its largest
