Tyco International Ltd. announced an agreement to acquire Brinks Home Security Holdings Inc., for a total consideration of about $2 billion that it will finance with a combination of cash and stock. The equity component in the transaction should preserve Tyco's credit measures, which have remained good through the downturn for the 'BBB+' rating. We are placing the company's ratings, including the 'BBB+' long-term corporate credit rating, on CreditWatch with positive implications, and are affirming the 'A-2' commercial paper rating. On Jan. 20, 2010, Standard&Poor's Ratings Services placed its ratings on Tyco International Ltd., including the 'BBB+' long-term corporate credit rating, on CreditWatch with positive implications. At the same time, we affirmed the 'A-2' commercial paper rating. The
