Moody’s rates Tyco notes Baa1

Moody's Investors Service said it rated Tyco Electronics Group SA's proposed euro-denominated unsecured notes Baa1.

The outlook is stable.

Tyco Electronics is the primary debt-issuing subsidiary of TE Connectivity Ltd. and directly or indirectly owns all of its operations.

Moody’s said the Baa1 rating reflects Tyco Electronics's scale and leading positions within the electronic connector industry, strong credit metrics, good liquidity and global and end customer diversification. The strong market positions highlight the integrated relationships Tyco Electronics has with many customers, the critical nature of the products and the relatively high degree of engineering that is involved in their design and manufacture.

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