Research Update: Tenneco Inc. Placed On CreditWatch With Positive Implications On Business, Financial Prospects Jan 06

  • ID: 1831208
  • January 2006
  • Standard & Poors
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On Jan. 30, 2006, Standard & Poor's Ratings Services placed various ratings, including its 'B+' corporate credit rating on Lake Forest, Ill.-based Tenneco Inc. on CreditWatch with positive implications. The company's 'B-1' short-term and '3' recovery ratings are affirmed and are not on CreditWatch. The CreditWatch reflects our view that a modest upgrade is possible following our review of Tenneco's business and financial prospects for 2006 and beyond. The company's credit measures improved during 2005, despite a very difficult environment for the rated auto supplier universe, reflecting Tenneco's good customer, platform, and geographic diversity. Still, given our view that challenging automotive supplier industry conditions will continue, we would need to conclude that Tenneco's improved operating and financial performance is sustainable...

Companies mentioned in this report are:
- Tenneco Inc.

Action: On CreditWatch:Positive

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- Tenneco Inc.

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