(Editor's note: This press release published on Jan. 22, 2002, inadvertently stated Tyco International's short-term rating incorrectly. The correct rating is 'A-1', as shown below.) NEW YORK (Standard&Poor's) Jan. 23, 2002--Standard&Poor's today affirmed its ratings on Tyco International Ltd., Tyco Capital Corp. and their subsidiaries following Tyco International's announcement of plans to separate into four independent, publicly traded companies through a series of IPO's and spin-offs. The outlooks on both remain stable. The affirmation of Tyco International Ltd.'s (A/Stable/A-1) ratings reflects the expectation that most debtholders (other than Tyco Capital's) will have the opportunity to be repaid in full via tender offers and other refinancing of existing debt. In addition, operating and financial strategies should remain
