NEW YORK (Standard&Poor's) March 18, 2002--Standard&Poor's said today that its triple-'B' and 'A-3' corporate credit ratings on diversified global manufacturing and service company Tyco International Ltd. and the ratings on its industrial affiliates remain on CreditWatch with developing implications where they were placed Feb. 4, 2002. Since that time, Bermuda-based Tyco has begun the process of selling its plastics business, and the transaction is expected to be completed during the next few months. Proceeds should total about $3 billion. In addition, Tyco recently outlined a plan to spin off its wholly owned subsidiary, The CIT Group Inc., to existing shareholders. Other methods of disposing of its interest in CIT are also possible. In any event, Standard
