NEW YORK (Standard&Poor's CreditWire) June 1, 2001--Standard&Poor's today raised its ratings on Tyco International Ltd. and certain affiliates (see list below) and removed them from CreditWatch, where they were placed with positive implications on March 13, 2001. The current outlook is stable. At the same time, Standard&Poor's affirmed its ratings on The CIT Group Inc. and its subsidiaries (see list below). The outlook is stable. The Tyco upgrade reflects steady strengthening of the company's business profile, with leading positions in a number of major industries, and management's proven ability to successfully integrate large acquisitions. Moreover, the company's aggressive growth has been financed in a balanced manner, using a combination of debt and equity, and
