On Sept. 21, 2001, Standard&Poor's placed its ratings for Boeing Co. on CreditWatch with negative implications. The Sept. 11 terrorist attacks against the U.S. have had a severe impact on commercial aviation. The domestic airline industry has been hit particularly hard and most carriers have announced they plan to reduce capacity by about 20%. As a consequence, aircraft manufacturers, such as Boeing, will be adversely affected. Weaker air traffic, losses at airlines, grounded aircraft, lower passenger confidence, and a slower global economy will clearly constrain demand for new planes. In addition, the company is likely to face higher financing requests from its airline customers. Even before the Sept. 11 attacks, airline industry conditions were difficult, leading to reduced
