Leading market positions; Good product, customer, and geographic diversity; and Good technology, value-added content. Tough competition; Cyclical demand; and Pricing pressures. 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 solid business profile 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
