TRW Automotive Holdings (TRW) Ratings Affirmed by S&P

Standard & Poor's Ratings Services affirmed its ratings, including the 'BBB-' corporate credit rating and other ratings, on TRW Automotive Holdings (NYSE: TRW).

Livonia, Mich.-based TRW Automotive Inc. announced it has reached a definitive agreement with Germany-based ZF Friedrichshafen AG (unrated; privately held) to be acquired in a largely debt-funded transaction valued at $12.4 billion.

The ratings affirmation reflects our expectation that the company will repay its rated debt upon closing of the transaction.

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