NEW YORK (Standard&Poor's) Nov. 16, 2005--Standard&Poor's Ratings Services said today that it placed its ratings on Pembroke, Bermuda-based Tyco International Ltd. on CreditWatch with negative implications, including the 'BBB+' corporate credit rating on the company and the 'A-2' commercial paper rating. At Sept. 30, 2005, the diversified industrial manufacturer had approximately $14.9 billion of total debt outstanding. "The rating actions follow the company's commentary on its earnings call that it will consider a full range of possibilities to unlock shareholder value," said Standard&Poor's credit analyst Joel Levington. "While we have noted that the company's evolving set of financial polices has been considered a credit weakness and one impediment to higher ratings, we had not
