About 70% of sales come from products with leading positions within their respective markets; Above-average product, customer and geographic diversity; A sound operating strategy, based on lean manufacturing, Six Sigma initiatives, and new product development; and Substantial discretionary free cash flow generation. Several possible contingent liabilities, including lawsuits, tax audits and SEC investigations; Very high goodwill and intangible assets; and Unfunded pension and OPEB liabilities. Ratings on Pembroke, Bermuda-based Tyco International Ltd. and its subsidiaries remain on CreditWatch with negative implications, where they were first placed on Nov. 15, 2005, and will remain on CreditWatch pending completion of our review in late 2006 or early 2007. The CreditWatch update followed the company's disclosure at its fiscal 2005 fourth quarter earnings
