NEW YORK (Standard&Poor's) March 13, 2007--Standard&Poor's Ratings Services assigned its 'BB-' rating to TRW Automotive Inc.'s proposed senior unsecured notes. The refinancing is expected to lower TRW's interest expense and modestly extend maturities. At the same time, Standard&Poor's affirmed its ratings on the Livonia, Mich.-based auto supplier, including its 'BB+' long- and 'A-3' short-term corporate credit ratings. The outlook is stable. TRW had $3 billion in total balance sheet debt outstanding at Dec. 31, 2006. The notes will be issued in three tranches: $670 million due 2014; €250 million due 2014; and $500 million due 2017. TRW is expected to use the net proceeds to purchase outstanding debt pursuant to the cash tender offers
