Leading connector market share in growing markets; Diverse end markets and geographic diversity; and Continued focus on cost reductions and margin improvements. Leverage in the high-1x area as of March 31, 2017 primarily as a result of high shareholder returns over the past two years and the acquisition of Creganna Medical Group in fiscal year ended Sept. 30, 2016; Strong liquidity with $773 million of cash as of March 31, 2017 and consistent positive annual free operating cash flow (FOCF) generation in excess of $1 billion over the past two years; and Moderating share repurchase activities going forward, with dividends and share buybacks to be funded by FOCF generation. S&P Global Ratings' stable outlook on Schaffhausen, Switzerland-based TE Connectivity Ltd.,
