NEW YORK (Standard&Poor's) Jan. 28, 2015--Standard&Poor's Ratings Services today said its ratings on TE Connectivity Ltd. are unchanged after the company announced that it has reached an agreement to sell its broadband network solutions (BNS) business unit to CommScope Holding Co. Inc. for $3 billion. The BNS business, which consists of TE Connectivity's telecommunications, enterprise networks, and wireless businesses, had revenue of $1.9 billion, or about 14% of TE Connectivity's revenue, for fiscal year ended Sept. 26, 2014. The transaction is targeted to close by the end of calendar year 2015 and the company intends to use the majority of the proceeds from the sale for share repurchases. TE Connectivity is a global company that designs
