Amended- Fitch Revises Tenneco´s Outlook to Negative; Affirms IDR at ´BB-´

This is an update to the release that went out earlier today: Fitch Ratings has affirmed the Issuer Default Rating (IDR) and outstanding debt ratings of Tenneco, Inc. as follows: --Senior secured bank credit facility at ´BB+´; --Senior secured notes at ´BB´; --Senior unsecured notes at ´BB-´; --Subordinated notes at ´B´. Fitch has also revised Tenneco´s Rating Outlook to Negative from Stable. The Outlook revision reflects the potential impact of global automotive production cuts on Tenneco´s near-term operating performance and leverage. Deep production cuts by domestic manufacturers in Tenneco´s major product platforms, as well as a decline in European auto production, are expected to more than offset potential growth in Tenneco´s global customer base and products through at least the next several quarters. Cash flow may turn... [read full story]