German automotive component supplier ZF Friedrichshafen AG closed its acquisition of U.S.-based TRW Automotive Inc. on May 15, 2015. We are lowering our corporate credit rating on TRW Automotive Inc. to 'BB' from 'BBB-' and removing it from CreditWatch, where we placed it with negative implications on April 13, 2015. The outlook is stable. Subsequent to these actions, we are withdrawing our corporate credit rating on TRW. On May 15, 2015, Standard&Poor's Ratings Services lowered its corporate credit rating on TRW Automotive Inc. to 'BB' from 'BBB-' and removed it from CreditWatch, where we placed it with negative implications on April 13, 2015. The outlook is stable. Subsequent to these actions, we withdrew our corporate credit rating on
