S&P Raises BorgWarner’s Rating

Standard & Poor's Ratings Services has hiked the corporate credit rating of BorgWarner Inc. by one notch to BBB+, three steps into investment grade territory. S&P made the same upgrade to its rating for BorgWarner's senior unsecured debt.

The agency expects BorgWarner to boost its 2012 revenue in Europe, its largest market, despite the region's declining auto sales. S&P says the company's sales of engine and drivetrain components are likely to benefit from worldwide efforts to improve fuel-efficiency.