TRW Amends Its Primary Credit Facility
June 26 2009 - 7:31AM
PR Newswire (US)
LIVONIA, Mich., June 26 /PRNewswire-FirstCall/ -- TRW Automotive
Holdings Corp. (NYSE:TRW), the global leader in active and passive
safety systems, today announced it has finalized an agreement with
its lenders of its senior secured credit agreement. The amended
$2.5 billion credit agreement is effective June 24, 2009 and
includes revised financial covenant ratios beginning with the
second quarter of 2009 and continuing through the third quarter of
2011. The Company sought the amendment in response to the current
industry conditions including the unprecedented decline in global
vehicle production. Detailed information on the changes to the
senior secured credit agreement including revised financial
covenant ratios, revised pricing levels and expenses incurred can
be found in the Company's 8-K filing today. About TRW With 2008
sales of $15.0 billion, TRW Automotive ranks among the world's
leading automotive suppliers. Headquartered in Livonia, Michigan,
USA, the Company, through its subsidiaries, operates in 26
countries and employs approximately 61,000 people worldwide. TRW
Automotive products include integrated vehicle control and driver
assist systems, braking systems, steering systems, suspension
systems, occupant safety systems (seat belts and airbags),
electronics, engine components, fastening systems and aftermarket
replacement parts and services. All references to "TRW Automotive",
"TRW" or the "Company" in this press release refer to TRW
Automotive Holdings Corp. and its subsidiaries, unless otherwise
indicated. TRW Automotive news is available on the internet at
http://www.trw.com/. DATASOURCE: TRW Automotive Holdings Corp.
CONTACT: Investor Relations: Mark Oswald, +1-734-855-3140, or
Media: John Wilkerson, +1-734-855-3864, both of TRW Automotive
Holdings Corp. Web Site: http://www.trw.com/ Company News On-Call:
http://www.prnewswire.com/comp/853755.html
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