Fitch ups Tyco Electronics view to stable

Fitch Ratings said it revised the outlook to stable from negative for Tyco Electronics Ltd. and its wholly owned subsidiary, Tyco Electronics Group SA.

In addition, Fitch affirmed the BBB issuer default rating and F2 short-term IDR for both entities.

Tyco Electronics Group ratings affirmed include the commercial paper program at F2; senior unsecured revolving credit facility at BBB; and senior unsecured notes at BBB.

The outlook revision reflects Fitch's increased confidence in Tyco Electronics' free cash flow profile; Tyco's $764 million of debt reduction over the last year; and Tyco's stronger than previously anticipated operating performance exiting fiscal 2009.

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