Ratings on Boeing Co. are supported by its position as one of the two globally dominant producers of commercial aircraft, generally favorable long-term fundamentals for that business, a very strong position in defense and space, relatively low debt usage, sizable cash balances, and anticipated further improvements in financial performance. This more than offsets the highly competitive, cyclical, and capital-intensive nature of the commercial aircraft market, very competitive conditions in the defense and space sectors, and actions to enhance shareholder value. In the company's largest segment, commercial airplanes, orders in 2000 were better than expected. As a result, Boeing's deliveries in 2001 and 2002 should be moderately higher, compared with 2000. Resolution of serious production problems and ongoing efforts to boost
