Fitch affirms TE Connectivity

Fitch Ratings said it affirmed the A-/F2 ratings of TE Connectivity Ltd. and wholly owned subsidiary Tyco Electronics Group SA.

The outlook is stable.

The agency said the ratings and outlook reflect TE Connectivity's recent performance, which has generally exceeded Fitch's prior expectations.

“Organic growth has registered at the very top to above TE Connectivity's long-term targets and the outlook for continued strong performance, particularly in the Transportation Solutions segment, looks promising,” the agency said in a news release.

“TE Connectivity's performance remains levered to the global automotive sector, which is cyclical. However, content growth is expected in the mid-single digits given the secular tailwinds associated with vehicle electrification, hybrid and EV powertrains, connected vehicles and ADAS systems and autonomous technology.”

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.