Paris -- Standard&Poor's CreditWire 1/19/1999 -- Standard&Poor's today placed its single-'A'-minus long-term and 'A-2' short-term ratings on British Aerospace PLC (BAe) and related guaranteed entities on CreditWatch with positive implications (see list below). The rating action follows today's announcement that BAe plans to merge with Marconi Electronic Systems, GEC PLC's defense division. The merger would unite two major players in the defense industry, with combined sales of over UK12 billion ($22 billion). Standard&Poor's views the transaction very positively from a business perspective. GEC will provide BAe with: -- Strong and proven expertise in defense-electronics systems, one of the fastest-growing sectors in the defense industry; -- Participation in a broad range of military platforms (the
