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BULLETIN: Tyco International Ltd., Tyco Capital Announce Fiscal First Quarter Earnings Jan 02
Standard & Poors, Jan 2002
Abstract
Standard & Poor's ratings and outlook on Tyco International Ltd. (A/Stable/A-1) and its wholly-owned subsidiary Tyco Capital Corp. (A+/Stable/A-1) remain unchanged following Tyco's announcement of earnings for its fiscal first quarter ended Dec. 31, 2001. Sales and earnings in Tyco's electronics businesses declined somewhat more than expected as a result of weak market conditions across several end markets, and these conditions are likely to persist for the next several months. However, strong performances by the company's healthcare, fire and security, and financial services divisions caused overall earnings and cash flow generation to fall within expected ranges. Tyco's debt (adjusted for off-balance-sheet items) to capital is at acceptable levels in the low-40% area, and the ratings can support modest bolt-on acquisitions...
Companies mentioned in this report are: Tyco International Ltd.,CIT Group Inc.
Action: S&P Event
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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