S&P ups TRW Automotive

Standard & Poor's said it raised the corporate credit rating on TRW Automotive Inc. to BB- from B+ and raised all of its debt ratings.

The outlook is stable.

The upgrade reflects a belief that TRW's creditworthiness has improved because of the moderate auto market recovery, cost restructuring actions taken during the global downturn and renewed attention to debt reduction, S&P said.

The agency said it expects TRW to remain profitable and generate positive cash flow, even if auto production remains at existing levels.

The agency said it believes these credit measures can be sustained or improved in 2011 if production increase and the company's liquidity position has improved.

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