Leading connector market share in growing markets Diverse end markets and geographies Continued focus on cost reductions and margin improvement Consistent and strong cash flow generation profile A balance of growth initiatives and shareholder returns Declining leverage The stable outlook on Berwyn, Pa.-based connectivity and sensors solutions designer and manufacturer TE Connectivity Ltd. reflects our view that the company will continue to deliver consistent earnings performance and strong cash generation, despite challenging market conditions. We could downgrade the company if it were to pursue more aggressive shareholder initiatives or acquisitions that would result in sustained leverage in the 1.75x area. An upgrade, while unlikely over the next one to two years given the company's current growth strategies, could occur if
