Bermuda-based Tyco International's planned $9.2 billion purchase of finance company CIT Group Inc. and the $53 billion of debt it affects.

Moody's Investors Service said it might raise Tyco's "Baa1'' senior unsecured debt rating and affirmed its "Prime-2'' short-term ratings. At about the same time, Standard & Poor's said it may raise Tyco's "A-minus'' senior unsecured and "A-2'' short-term ratings.

S&P's ratings are roughly one notch higher and equal, respectively, to Moody's ratings.

Moody's said it may cut CIT's "A1'' senior unsecured and "A2'' subordinated debt ratings and affirmed its "Prime-1'' short-term debt rating. S&P affirmed its comparable "A-plus'', "A'' and "A-1'' ratings, which are roughly equal to Moody's.