NEW YORK (Standard&Poor's) July 2, 2013--Standard&Poor's Ratings Services said today that its ratings on Tyco International Ltd. (Tyco; A-/Stable/A-2) and Tyco International Finance S.A. (TIFSA; A-/Stable/--), Tyco's wholly-owned finance subsidiary, are not immediately affected by the company's announcement that it has received a notice of deficiency from the IRS. The IRS is asserting that substantially all intercompany debt originated during 1997-2000 should not be treated as debt, and has disallowed interest and related deductions. Tyco had previously disclosed it expected to litigate on those matters, and the company intends to contest the proposed adjustments. Our ratings already assume related potential liabilities of about $500 million. Although the ultimate outcome of this pending litigation is uncertain, our
