NEW YORK (Standard&Poor's) Sept. 20, 2007--Standard&Poor's Ratings Services said today it assigned its 'BBB' corporate credit rating to Bermuda-based Tyco Electronics Ltd., the connector, and other electronics-related businesses that were spun off from Tyco International Ltd. on June 29, 2007. The outlook is stable. At the same time, we assigned our 'BBB' rating to the company's senior unsecured notes that will be issued by Tyco Electronics' Luxembourg-based debt-issuing subsidiary, Tyco Electronics Group S.A. (TEGSA) and guaranteed by Tyco Electronics Ltd. The debt will be issued in multiyear tranches. Proceeds from the notes will be used to reduce exposure under the company's bridge facility. Tyco Electronics generated $12.8 billion in net revenues in fiscal 2006 (ended September).
