Credit Update: Tyco Electronics Group S.A. (Tyco Electronics Ltd.) - Credit Update - 2009/02/04 - Fitch Research

Report title: Credit Update: Tyco Electronics Group S.A. (Tyco Electronics Ltd.)

from Fitch Research
4 page (2479 word) report published Feb 04, 2009

Price $165.00 available for immediate download

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...The Outlook for Tyco Electronics Ltd. and its wholly owned subsidiary, Tyco Electronics Group S.A. (together Tyco Electronics ), reflects Fitch Ratings expectations for a challenging operating en vironment in 2009, particularly within European and U.S. automotive end markets, and that demand visibility remains very limited. Fitch expects free cash flow (FCF) will be lower than previously expected in 2009 (but still exceed $250 million), due to pressured profitability and increased cash restructuring costs. The company recently announced plans to close two additional manufacturing facilities in hi gher cost regions, resulting in cash restructuring costs of $250 million in 2009. The ratings currently incorporate Fitch s expectations for EBITDA margin erosion to the 11% ...

Report Type:

Credit Update

Company(ies):

Tyco Electronics Ltd., Tyco Electronics Group S.A.

Ticker(s):

TEL

Issuer:

Tyco Electronics Ltd.

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