Leading market position; Fair product and geographic diversity; Good technology and value-added content; and Free cash flow generation. Highly competitive markets; Relatively narrow business base; Somewhat concentrated customer base; and Exposure to volatile commodity prices. Standard&Poor's Ratings Services believes Livonia, Mich.-based automotive product producer and supplier TRW Automotive Inc.'s solid competitive position in the global auto market, profitability, continuing free cash generation from operations, modest leverage, and strong liquidity could support an upgrade to investment grade in the year ahead if the following uncertainties are resolved. We would need to have confidence that the antitrust investigation continuing in Europe will not result in a material negative use of cash or adverse shift in business prospects for TRW. We
