US CREDIT-TRW's spreads hit by European concerns

Newswire

NEW YORK, May 25 (Reuters) - Europe's debt crisis has been hard on credit spreads of U.S. companies but few have been hit harder than TRW Automotive, the auto supplier that depends on Europe for about 58 percent of its sales. Last week alone, TRW's five-year credit default swap costs ballooned by nearly 33 percent to 636 basis points, according to data from Markit. They have since retraced some of that move to about 605 basis points but that is still 56 percent wider on the month. ...

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