On Jan. 16, 2003, Standard&Poor's Ratings Services assigned its 'BB' corporate credit rating to Livonia, Mich.-based TRW Automotive Acquisition Corp. and its 'BB' rating to the company's $1.8 billion proposed secured bank credit facility. At the same time, Standard&Poor's assigned its 'B+' rating to TRW Automotive's proposed $1.0 billion senior notes due 2013, and a 'B+' rating to the company's proposed $400 million senior subordinated notes due 2013. The notes are being issued under rule 144a with registration rights. The outlook is stable. Proceeds from the debt issues will be used to finance the purchase of TRW Automotive by Blackstone Group L.P. from Northrop Grumman Corp. The ratings reflect TRW Automotive's average business profile as a
