NEW YORK (Standard&Poor's) Nov. 23, 2004-- Standard&Poor's Ratings Services said today that it assigned its 'BB+' rating to TRW Automotive Inc.'s (TRW) new, $1.9 billion senior secured bank credit facility, with a recovery rating of '3', indicating meaningful recovery of principal (50%-80%) in a post-default scenario. At the same time, Standard&Poor's affirmed its 'BB+' corporate credit rating and all other ratings on the company. Proceeds from the proposed facility will be used to refinance TRW's existing bank loan, with the exception of the recently syndicated $300 million senior secured term loan E, which will remain outstanding. Term loan E will rank pari passu with the new bank facility. The outlook is stable. At Sept.
