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Tenneco Inc. Outlook Revised To Positive From Negative On Improved Operating Results; All Ratings Affirmed Aug 09
Standard & Poors, August 2009
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. NEW YORK (Standard & Poor's) Aug. 31, 2009--Standard & Poor's Ratings Services today said it has 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," said Standard & Poor's credit analyst Lawrence Orlowski. As a result, we believe credit...
Companies mentioned in this report are:
- Tenneco Inc.
Action: Outlook: Positive
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
- Tenneco Inc.