S&P gives Tyco Electronics notes A-

S&P said it assigned its A- issue-level rating to Tyco Electronics Group SA's proposed senior unsecured notes.

TE Connectivity Ltd. will fully guarantee the notes.

“We expect the company to use the debt proceeds for general corporate purposes, which may include the repayment of existing debt,” the agency said in a news release.

“This transaction does not materially alter the company's adjusted debt to EBITDA, which we expect will remain in the mid-1x area over the next 12-24 months.”

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