We are revising our business risk assessment of Livonia, Mich.-based auto supplier TRW Automotive Inc. to "satisfactory" from "fair," reflecting our view that the company's competitive position and low double-digit EBITDA margins are sustainable. We are raising our corporate credit rating on TRW to 'BBB-' from 'BB+' and our issue-level ratings on the company's unsecured debt to 'BBB-' from 'BB' and the subordinated debt to 'BB+' from 'BB-'. We are also lowering the issue-level rating on the company's secured revolving credit facility to 'BBB-' from 'BBB'. The stable outlook reflects our view that the TRW will continue to generate solid earnings and cash flow and maintain stable credit measures. NEW YORK (Standard&Poor's) Sept. 13, 2013--Standard&Poor's Ratings
