NEW YORK (Standard&Poor's CreditWire) Oct. 18, 2000--Standard&Poor's today raised its corporate credit, senior unsecured debt, bank loan, preliminary senior unsecured debt, and preferred stock ratings on Mallinckrodt Inc. (see list below) and removed them from CreditWatch, where they were placed June 29, 2000. At the same time, Standard&Poor's affirmed its short-term corporate credit and commercial paper ratings on the company (see list). In addition, the ratings on Tyco International Ltd. and related entities were affirmed (see list). These actions follow the completion of Tyco's acquisition of Mallinckrodt for about $4.2 billion ($3.2 billion in stock and $1 billion in assumed debt). The outlook on both companies is negative. The ratings reflect Tyco International Ltd.'s
