NEW YORK (Standard&Poor's CreditWire) Sept. 30, 1999--Standard&Poor's today affirmed its ratings on Tyco International Ltd. and related entities (see list below). However, the outlook was revised to negative from stable. The outlook revision was prompted by concerns that the rapid pace of acquisitions in a wide array of businesses has strained the financial profile. Although the company uses a mix of debt and equity to finance acquisitions, there is a possibility that credit protection measures could remain stretched for the ratings for an extended period of time, particularly if the company were to experience difficulties integrating acquired operations. During the past few years, Tyco has established leading positions in fire and security services, disposable and specialty
