Moody's boosts Tyco Electronics

Moody's Investors Service said it raised Tyco Electronics Group SA's senior unsecured rating to A3 from Baa1.

"Tyco managed through the pandemic with only moderate impact to its business and rebounded strongly through 2021," said Matthew Jones, a Moody's senior credit officer and lead analyst for the company, in a press release.

Jones further noted, "The performance highlights their ability to manage through down cycles in the underlying auto industry, their largest end market."

The outlook is stable.

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