Fitch: TE Connectivity, Tyco unchanged

Fitch Ratings stated that the ratings for TE Connectivity Ltd. and its wholly owned subsidiary, Tyco Electronics Group SA, are unaffected by the company's proposed acquisition of Deutsch Group SAS for €1.55 billion, about 11 times Deutsch's projected 2011 operating EBITDA of about $175 million.

TE Connectivity's ratings include the issuer default rating at BBB+ and short-term issuer default rating at F2 as well as the subsidiary's issuer default rating at BBB+, short-term issuer default rating at F2, CP program at F2, senior unsecured revolving credit facility at BBB+ and senior unsecured notes at BBB+.

The outlook is stable.

According to the agency, Deutsch has significant circular connector capabilities, which are the dominant technology used in harsh connectivity applications.

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