NEW YORK (Standard&Poor's) May 15, 2007--Standard&Poor's Ratings Services said today that Tyco International Ltd.'s announcement that it will take a $2.975 billion charge to settle most class-action lawsuits involving the stock and former management issues will not affect its proposed BBB/Stable/-- rating on Tyco Electronics. Tyco Electronics will be spun off from parent Tyco International during the second calendar quarter of 2007. The settlement is subject to court approval and the participation of plaintiffs holding a significant percentage of Tyco shares in the class. The settlement of most of Tyco securities class action lawsuits is a positive development in that it removes a significant uncertainty. The settlement amount of $2.975 billion, furthermore, is about $1.0 billion
