S&P assigns TRW loan BBB-

Standard & Poor's said it assigned its bank loan and recovery ratings to TRW Automotive Inc.'s proposed $2.5 billion senior secured credit facilities.

The credit facilities were rated BBB-, one notch higher than the corporate credit rating, with a recovery rating of 1, the agency noted.

At the same time, S&P said it affirmed its ratings on TRW, including its BB+ long- and A-3 short-term corporate credit ratings.

The outlook is stable.

The agency noted that the ratings on TRW reflect the company's aggressive financial profile, which is characterized by a somewhat heavy debt load which offsets the company's satisfactory business position as one of the world's 10 largest manufacturers of original equipment automotive parts.

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