...July 30, 2024 NEW YORK (S&P Global Ratings) July 30, 2024--S&P Global Ratings today assigned its 'A-' issue-level rating to the $350 million of new senior unsecured notes to be issued by Tyco Electronics Group S.A., a wholly owned borrowing entity of interconnect and sensor products manufacturer TE Connectivity Ltd. The rating on the notes guaranteed by TE Connectivity matches those of its existing guaranteed senior unsecured notes. All our existing ratings on the parent company, including our 'A-' long-term issuer credit rating and stable outlook, are unchanged. It intends to use the net proceeds of the new notes to refinance its existing $350 million notes due in August 2024. We now forecast TE Connectivity's revenues in fiscal 2024 (ending Sept. 27) to decline 1%-2% compared to our previous expectation in January of slight growth. We revise downwards our revenue forecasts for the transportation and industrial solutions segments (2%-3% decline in each segment), only partly offset by an...
