Fitch rates TRW Automotive notes BBB-

Fitch Ratings said it assigned a rating of BBB- to TRW Automotive, Inc.'s proposed $400 million in senior unsecured notes due 2021.

TRW Automotive is a subsidiary of TRW Automotive Holdings Corp.

The issuer default rating for both companies is BBB- and the outlook is stable.

The proposed notes will be issued through a 144A offering and will be guaranteed by substantially all of TRW Automotive's existing and future direct and indirect wholly owned domestic subsidiaries.

Although the company has not been explicit in how it expects to use the funds, other than for general corporate purposes, Fitch said it notes the company has several potential calls on cash over the next 18 months.

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