S&P: Autoliv on positive watch

Standard & Poor's said it placed the BBB- long-term issue rating on Autoliv Inc.'s 8% senior notes due April 30, 2014 on CreditWatch with positive implications.

The agency also said it affirmed the BBB+ long-term and A-2 short-term issuer ratings on the company and the K-1 Nordic national scale rating. These ratings are not on CreditWatch.

The agency said it expects to raise the rating on the senior notes by two notches to BBB+ once associated forward purchase contracts for Autoliv common stock are settled.

The ratings reflect a view of the company's leading market position in auto safety products, principally seat belts and air bags, S&P said.

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