Corporate credit rating: A-/Watch Pos/A-2 Standard&Poor's said today that Tyco International Ltd.'s plans to acquire SecurityLink and other electronic security systems businesses from Cambridge Protection Industries LLC for about $1 billion in cash will not affect Tyco's ratings. Although this transaction will increase debt, the amount is not significant in the context of Tyco's more than $50 billion of total assets and strong cash flow generation. This acquisition will add about one million residential, commercial, and government customers, expanding Tyco's recurring revenue base. In addition, the integration of Cambridge with Tyco's ADT operations should provide considerable cost savings. Tyco's ratings remain on CreditWatch with positive implications, where they were placed on March 13, 2001, when Tyco announced plans
