Fitch International raises default rating of issuer of TRW Group

According to foreign media news, Fitch International raised the issuer's default rating of Tianhe Automotive Group Co., Ltd. and Tianhe Automobile Co., Ltd. from “BB+” to “BBB-”, mainly because the company’s performance after the global economic recession Rebound. In addition, Fitch International also highly appreciates TRW's cash flow and its position on the balance sheet.

It is understood that the BBB level is the lowest investment level, which indicates that the TRW Group has a good credit situation and the risk of default is low, while the BB level is a spec rating, and the default risk is relatively high.

Headquartered in Michigan, USA, TRW is leading the field in advanced technology products and automotive market services. The company designs, manufactures and sells active and passive safety system products and ranks among the top ten in the world in automotive systems, modules and components. Its major competitors include Autolif and others.