We are maintaining our 'BBB' corporate credit rating on TE Connectivity in the wake of its announced $2.06 billion acquisition of Deutsch Group SAS Co. We are also affirming our 'A-2' commercial paper rating and 'BBB' senior unsecured debt ratings. The positive outlook reflects our expectations that leverage will return to current levels within a year. On Nov. 30, 2011 Standard&Poor's Ratings Services affirmed its 'BBB' corporate credit rating on Switzerland-based TE Connectivity Ltd. The outlook is positive. The affirmation reflects pro forma estimated September 2011 leverage of 1.8x following the acquisition, which is expected to close by fiscal third-quarter 2012 and will be financed about half with cash on hand and half with debt. The company had
