NEW YORK (Standard&Poor's) July 2, 2013--Standard&Poor's Ratings Services said today that its 'BBB+' corporate credit rating, stable outlook, and other ratings on TE Connectivity Ltd. are unaffected by the announcement that TE Connectivity's former parent, Tyco International Ltd. (A-/Stable/A-2), has received "notices of deficiency" from the IRS related to intercompany loans for the period 1997 to 2000, disallowing associated interest deductions and increasing taxes by approximately $1 billion. In accordance with a tax-sharing agreement in place, TE Connectivity's share would be 31%. Tyco International is contesting the notices and intends to file suits in U.S. Tax Court disputing the IRS' position. Assuming these suits are not settled earlier, they may not be heard in court for
