S&P ups TRW Automotive debt to BB-, B-

Standard & Poor's said it assigned a B- rating to TRW Automotive Inc.'s proposed $250 million senior unsecured debt offering with a recovery rating of 5.

The company also raised the its senior secured term loan debt and revolving credit line to BB- from B+ and revised the recovery rating 1 from 2 as well as its senior unsecured debt to B- from CCC+ and revised the recovery rating to 5 from 6.

TRW's corporate credit rating is B.

The outlook is positive.

The upgrades reflect the company's plans to reduce the amount of senior secured debt on its balance sheet, according to S&P.

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