NEW YORK (Standard&Poor's) July 10, 2008--Standard&Poor's Ratings Services said today that its ratings and outlook on Tyco International Ltd. (BBB/Stable/A-2) are not affected by the announcement that Tyco's board of directors has authorized a new program to purchase up to $1.0 billion of the company's common stock. The program is in addition to the current $1.0 billon program that was authorized in September 2007 and that is nearing completion. The company has indicated that it intends to repurchase shares from time to time based on market conditions. Standard&Poor's expects that Tyco's good free cash flow generation, sizable cash balances, and expected proceeds from upcoming divestitures will allow the company to maintain appropriate measures for
