Moody's may lower TRW

Moody's Investors Service said it has placed the Ba2 corporate family rating of TRW Automotive, Inc. under review for possible downgrade.

he action follows the company's announcement that it is withdrawing guidance for fiscal year 2008 provided on July 31, the agency added.

In addition, Moody's said that the company now expects a net loss for its 2008 third quarter on lower than anticipated sales, significantly higher restructuring expenses and increased commodity costs.

TRW plans to provide revised guidance for fiscal year 2008 when the company announces its third quarter financial results on Oct. 30, the agency added, noting that the company's speculative-grade liquidity rating of SGL-1 is unchanged.

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