Livonia, Mich.-based auto supplier TRW Automotive Inc. continues to report improved financial results, leading us to believe that the company's restructured cost base can support continued free cash generation and adequate profitability. Also, we believe the company is focused on permanently reducing debt and improving credit measures. We are raising the corporate credit rating on TRW to 'BB' from 'BB-' and are raising the issue-level debt ratings. The outlook is stable, reflecting our belief that the company's midterm financial prospects can support the new rating. On Aug. 6, 2010, Standard&Poor's Ratings Services raised its corporate credit rating on Livonia, Mich.-based auto supplier TRW Automotive Inc. to 'BB' from 'BB-'. The outlook is stable. At the same time, we
