NEW YORK (Standard&Poor's) Sept. 26, 2002--Standard&Poor's Ratings Services said today that its triple-'B'-minus long-term corporate credit and 'A-3' short-term ratings on Tyco International Ltd. and its subsidiaries remain on CreditWatch with negative implications following a number of disclosures made in a conference call hosted by the company on Sept. 25, 2002. During the call, the company announced an estimated $2.5 billion writedown in its telecommunications business. Of this amount, $400 million to $500 million will be cash outlays over an 18-month period. The company also lowered its earnings guidance for the current quarter. Hamilton, Bermuda-based Tyco is a diversified company with total debt of about $25 billion. The writedown was precipitated by management's decision to mothball
