Research Update: Tyco International Ltd. Downgraded To 'BBB' From 'BBB+', Off Watch On Completion Of Spin-Off - S&P Global Ratings’ Credit Research

Research Update: Tyco International Ltd. Downgraded To 'BBB' From 'BBB+', Off Watch On Completion Of Spin-Off

Research Update: Tyco International Ltd. Downgraded To 'BBB' From 'BBB+', Off Watch On Completion Of Spin-Off - S&P Global Ratings’ Credit Research
Research Update: Tyco International Ltd. Downgraded To 'BBB' From 'BBB+', Off Watch On Completion Of Spin-Off
Published Jun 29, 2007
1637 words — Published Jun 29, 2007
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

On June 29, 2007, Standard&Poor's Ratings Services lowered its ratings on Tyco International Ltd., including its corporate credit rating to 'BBB' from 'BBB+'. At the same time, Standard&Poor's removed the ratings from CreditWatch, where they were listed with negative implications on Nov. 16, 2005. The rating actions follow today's implementation of the spin-off of the electronics and healthcare businesses into standalone companies (Tyco Electronics Ltd and Covidien Ltd, respectively). Standard&Poor's also assigned its 'BBB' rating to Tyco International Finance S.A. (TIFSA), a wholly owned subsidiary of Tyco and the primary issuer of its funded debt. TIFSA's outstanding debt includes approximately $3.7 billion of bonds (see issue ratings below) and approximately $675 million drawn under

  
Brief Excerpt:

RESEARCH Research Update: Tyco International Ltd. Downgraded To '###' From '###+', Off Watch On Completion Of Spin-Off Publication date: 29-Jun-2007 Rationale On June 29, 2007, Standard & Poor's Ratings Services lowered its ratings on...

  
Report Type:

Research Update

Ticker
TYC
Issuer
Johnson Controls International PLC
GICS
Building Products (20102010)
Sector
Global Issuers, Structured Finance
Country
Ireland
Region
Europe, Middle East, Africa
Format:
PDF Adobe Acrobat
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S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Research Update: Tyco International Ltd. Downgraded To 'BBB' From 'BBB+', Off Watch On Completion Of Spin-Off" Jun 29, 2007. Alacra Store. May 12, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Tyco-International-Ltd-Downgraded-To-BBB-From-BBB-Off-Watch-On-Completion-Of-Spin-Off-588030>
  
APA:
S&P Global Ratings’ Credit Research. (). Research Update: Tyco International Ltd. Downgraded To 'BBB' From 'BBB+', Off Watch On Completion Of Spin-Off Jun 29, 2007. New York, NY: Alacra Store. Retrieved May 12, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Tyco-International-Ltd-Downgraded-To-BBB-From-BBB-Off-Watch-On-Completion-Of-Spin-Off-588030>
  
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