Research Update: TRW Automotive Inc. CCR Lowered To 'B', Outlook Negative, On Expected Higher Cash Use; Debt Ratings Also Lowered - S&P Global Ratings’ Credit Research

Research Update: TRW Automotive Inc. CCR Lowered To 'B', Outlook Negative, On Expected Higher Cash Use; Debt Ratings Also Lowered

Research Update: TRW Automotive Inc. CCR Lowered To 'B', Outlook Negative, On Expected Higher Cash Use; Debt Ratings Also Lowered - S&P Global Ratings’ Credit Research
Research Update: TRW Automotive Inc. CCR Lowered To 'B', Outlook Negative, On Expected Higher Cash Use; Debt Ratings Also Lowered
Published Jun 12, 2009
1473 words — Published Jun 12, 2009
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

We lowered the corporate credit rating on auto supplier TRW Automotive Inc. to 'B' from 'B+'. We also lowered the rating on TRW's senior secured debt to 'B+' from 'BB' and revised the recovery rating to '2' from '1', and lowered the rating on the senior unsecured debt to 'CCC+' from 'B' and revised the recovery rating to '6' from '5'. We removed all ratings from CreditWatch, where they had been placed with negative implications on April 30, 2009. The outlook is negative. On June 12, 2009, Standard&Poor's Ratings Services lowered its corporate credit rating on Livonia, Mich.-based TRW Automotive Inc. to 'B' from 'B+'. At the same time, we lowered the rating on TRW's senior secured debt

  
Brief Excerpt:

RESEARCH Research Update: TRW Automotive Inc. CCR Lowered To 'B', Outlook Negative, On Expected Higher Cash Use; Debt Ratings Also Lowered Publication date: 12-Jun-2009 Primary Credit Analyst: Nancy C Messer, CFA, New York (1) 212-438-7672;...

  
Report Type:

Research Update

Ticker
357970Z
Issuer
TRW Automotive Inc.
GICS
Auto Parts & Equipment (25101010)
Sector
Global Issuers, Structured Finance
Country
United States
Region
United States
Format:
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Research Update: TRW Automotive Inc. CCR Lowered To 'B', Outlook Negative, On Expected Higher Cash Use; Debt Ratings Also Lowered" Jun 12, 2009. Alacra Store. May 04, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-TRW-Automotive-Inc-CCR-Lowered-To-B-Outlook-Negative-On-Expected-Higher-Cash-Use-Debt-Ratings-Also-Lowered-727620>
  
APA:
S&P Global Ratings’ Credit Research. (). Research Update: TRW Automotive Inc. CCR Lowered To 'B', Outlook Negative, On Expected Higher Cash Use; Debt Ratings Also Lowered Jun 12, 2009. New York, NY: Alacra Store. Retrieved May 04, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-TRW-Automotive-Inc-CCR-Lowered-To-B-Outlook-Negative-On-Expected-Higher-Cash-Use-Debt-Ratings-Also-Lowered-727620>
  
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