Press Release: Textron Canada Limited and Textron Inc.

Press Release: Textron Canada Limited and Textron Inc.
 Date of Release: Oct 12, 2001
 Confirms at "A" & R-1 (low) and "A", respectively

Bev Dinsmore, Kam Hon / 416-593-5577 ext.2248, ext.2243 / e-mail:
dinsmore@dbrs.com

Textron Canada Limited

Rating		Trend		Rating Action		Debt Rated
   "A"		Stable		Confirmed		Corporate
Rating*
   R-1 (low)	Stable		Confirmed		Commercial Paper



Textron Inc.

Rating		Trend		Rating Action		Debt Rated
   "A"		Stable		Confirmed		Corporate
Rating*


* The Corporate Rating represents the highest rating achievable on a
company's most senior debt, if issued.

 DBRS is confirming the corporate rating and commercial paper rating of
Textron Canada Limited at "A" and R-1 (low), respectively, with a Stable
trend and confirming the corporate rating of Textron Inc. ("Textron" or
"the Company") at "A" with a Stable
 trend.

 The ratings of Textron Canada are based on the unconditionally
guaranteed of its parent, Textron Inc.

 The ratings reflect the Company's diversified portfolio of businesses,
conservative financial policies, profitability, and leading market
positions in its various markets. The Company's performance is currently
under pressure due to the weakening economy,
 accelerated by the recent terrorist attacks and internal restructuring.
In reaction to these conditions, the Company is intensifying its
restructuring plan, which will require costs of $125 million in addition
to $200 million previously announced, but will result in
 an estimated $225 million of annual future savings. Leverage is
expected to remain within a targeted low- to mid-30% range. Cash flow
from operations should remain sufficient to cover capital expenditure
and dividend requirements, although capital
 expenditures will be under close review in the immediate future.


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