Bulletin: Tenneco Inc.'s $150 Million Increase In Credit Facility Does Not Affect Ratings Or Outlook On The Company Mar 12
- Language: English
- Published: March 2012
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.