The ratings on Livonia, Mich.-based TRW Automotive Inc. reflect a somewhat aggressive financial profile, characterized by a diminishing but still moderately heavy debt load, which more than offsets its position as one of the world's 10 largest manufacturers of original equipment automotive parts. TRW's business position reflects its leading market shares for most of its products, strong technical capabilities, moderate growth prospects, and good revenue diversity within the automotive industry. TRW has a balance of mature products with limited growth potential, and new products (tire pressure monitoring; electronic steering systems; next-generation airbags; electronic stability control; safety electronics) with above-average growth prospects that improve vehicle performance and safety, key concerns of vehicle manufacturers and consumers. The business profile is constrained by
