Leading connector market share in growing markets; Diverse end markets and geographies; and Continued focus on cost reductions and margin improvement. Consistent and strong cash flow-generation profile; A balance of growth initiatives and shareholder returns; and Leverage that is high for the rating at 1.7x as of March 27, 2015 due to recent acquisitions. 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 pursues more aggressive shareholder initiatives or acquisitions that result in sustained leverage above the 1.75x area. While unlikely over the next one
