Tyco Electronics Ltd.'s operating performance has been improving, and we believe its leverage metrics will remain well within the threshold of availability for its revolving credit agreement. We are affirming the company's 'BBB-' long- and 'A-3' short-term corporate credit ratings. We are also affirming the 'BBB-' senior unsecured debt and the 'A-3' commercial paper (CP) ratings on subsidiary Tyco Electronics Group S.A. We revised the outlook to stable from negative. The stable outlook reflects our expectation that moderate sales growth, coupled with operating performance at or above recent levels, will yield steadily improving financial metrics. On Nov. 23, 2009, Standard&Poor's Ratings Services affirmed its 'BBB-' long- and 'A-3' short-term corporate credit ratings on Tyco Electronics Ltd. and revised
