Fitch Ratings said Wednesday that it has affirmed the Issuer Default Ratings of TE Connectivity Ltd. (TEL) and its wholly owned subsidiary, Tyco Electronics Group S.A. at 'BBB+'.
The Rating Outlook is Stable.
Fitch said the ratings and Stable Outlook reflect its belief that TE Connectivity's operating profile remains solid despite near-term headwinds.
The European sovereign debt crisis and fledgling recovery in the United States should constrain organic revenue growth across TE Connectivity's operating segments, the rating agency noted.
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