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.

You May Also Be Interested In

• SailPoint Technologies Holdings (SAIL) PT Raised to $25 by Cantor Fitzgerald on Solid Checks
• BMO Capital: 'Eli Lilly (LLY) to Acquire Precision I&I Biotech Merida Bio'
• Protagonist Therapeutics (PTGX) PT Raised to $190 at BMO Capital