Moody's: Tenneco view to positive

Moody's Investors Service said it raised the rating outlook of Tenneco Inc. to positive.

In a related action, Moody's affirmed Tenneco's corporate family and probability of default ratings at Ba3 and Ba3-PD, respectively, and affirmed the ratings on the company's senior secured bank debt at Baa3 and senior unsecured debt at B1.

The speculative grade liquidity rating also was affirmed at SGL-2.

Moody's said the change in Tenneco's rating outlook to positive reflects the company's improved debt service profile resulting from the combination of debt refinancing completed in 2012 and the ability to sustain profitability despite growth pressures in the company's commercial vehicle and European markets.

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