NEW YORK (Standard&Poor's) Dec. 9, 2004--Standard&Poor's Ratings Services said today that its ratings and outlook on Tyco International Ltd. (BBB/Positive/A-2) would not be affected by the company's announcement today that it intends to increase its annual dividend to approximately $900 million, (40 cents per share) from $100 million. The increase in dividends was largely anticipated, and we consider Tyco's new dividend policy as consistent, if not modestly conservative, compared to those of peer global diversified industrial manufacturers. We believe that the company has favorable near-term prospects and that free cash flow generation will remain robust, so that the dividend increase should not have a material impact on the company's financial profile or on its ability to
