Moody's rates Tyco notes Baa2

Moody's Investors Service said it assigned Baa2 ratings to the senior unsecured notes of Tyco Electronics Group SA, the principal debt issuer for parent Tyco Electronics Ltd.

The outlook is stable.

Proceeds will be used to repay a portion of Tyco Electronics' borrowing under a bridge facility.

Moody's said that Tyco International's proposed settlement of a majority of the company's legacy litigation suits, of which Tyco Electronics is responsible for a 31% portion, removes a significant amount of risk associated with an unknown, adverse outcome.

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