Research Update: Tenneco Inc. Outlook Revised To Positive From Negative On Improved Operating Results; All Ratings Affirmed Aug 09
- ID: 1831736
- August 2009
- Standard & Poors
Second-quarter operating results for auto parts maker Tenneco were better than we expected. We revised our outlook on Tenneco to positive from negative and affirmed our ratings. We believe the company's credit measures could return to levels consistent with a higher rating. On Aug. 31, 2009, Standard & Poor's Ratings Services revised its outlook on Tenneco Inc. to positive from negative and affirmed its 'B-' corporate credit rating and other ratings. The outlook revision reflects our expectation that operating results will improve more quickly than we expected thanks to greater manufacturing efficiencies, assorted restructuring initiatives, and tighter cost controls. As a result, we believe credit measures could return to levels consistent with a higher rating, and liquidity also will improve....
Companies mentioned in this report are:
- Tenneco Inc.
Action: Outlook: Positive
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Product Type: Research Update
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