This paper addresses the analysis of a class of rotating flexible system s with dynamics that can be described by a set of nonlinear differential equations with no known equilibrium solution. Ideally, the flexible system response cl osely follows the rigid -body behavior , where the rigid system is rotating at a constant rate. T herefore the time -periodi c rigid -body response will be used as a reference for linearization. The result is an inhomogeneous system consisting of a set of time -periodic linear differential equations with a time periodic vector forcing function. A n extension to Floquet Theory all ows the use of Floquet Multipliers or Characteristic Exponents to assess the long term behavior of the flexible system. Within the last 20 years, researchers have investigated the feasibility of spinning tethered satellite systems (TSS) for bo th deep space and terrestrial observation. The nonlinear model that describes the motion of the formation has no known equilibrium solution. 6 Linearization about an equilibrium solution is not possible and classical linear analysis can not be applied to evaluate stability . Another option is numerical simulation over several orbital periods to evaluate the long -term behavior of the system. S imulations indicate that many (possibly all) uncontrolled tethered formations are unstable in low Earth orbit . 8,9 However, a formal method is required to more rigorously investigate the stability of these systems. This paper develops a technique that uses a rigid -body reference solution to arrive at a linear system of equations that represent the tether dynamics. T he linear equations are time -varying and inhomogenous, a case that does not appear in the literature. A general extension to Floquet Theory is developed to accommodate a period ic forcing function and the theory is applied to both uncontrolled and controll ed rotating tethers.