NEW YORK (Standard&Poor's CreditWire) June 29, 2000--Standard&Poor's today affirmed its ratings on Tyco International Ltd. and related entities (see list below) following Tyco's announcement that it plans to acquire Mallinckrodt Inc. for about $4.2 billion ($3.2 billion in stock and $1 billion in assumed debt). The outlook on Tyco remains negative. At the same time, Standard&Poor's placed its corporate credit rating, senior unsecured debt rating, bank loan rating, preliminary senior unsecured debt rating, and preferred stock rating for Mallinckrodt on CreditWatch with positive implications, and affirmed its short-term corporate credit and commercial paper ratings on the company (see list). If the transaction is completed as planned, the ratings on Mallinckrodt will be raised to
