Tyco’s reputation moved a step closer to respectability after Moody’s, the ratings agency, affirmed the long and short-term debt ratings of Tyco International, giving a Baa3 rating to its £1 billion revolving credit facility and changed its ratings outlook to positive from stable. Strong cash flow is cited as one of the main reasons for the positive outlook combined with proceeds from the sale of a number of key assets.
?Continued operating improvements, strong cash flow generation and further debt reduction would be viewed favourably,? notes the ratings agency.
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