McDonnell Unit’s Debt Downgraded: Standard & Poor’s...
From Times Staff and Wire Service Reports
McDonnell Unit’s Debt Downgraded: Standard & Poor’s said it downgraded $3 billion of McDonnell Douglas Finance Corp. debt to reflect weaker credit-worthiness at the finance unit and its parent, McDonnell Douglas Corp., whose senior debt rating was lowered to BBB+ on July 27. MDFC’s senior debt was lowered to A--, its subordinated debt to BBB+ and commercial paper to A-2. MDFC had wider net losses in the first half of 1990 due to problem assets at its commercial real estate and auto leasing divisions.
