TSC Ratings' Updates: Autoliv

Each business day, TheStreet.com Ratings updates its ratings on the stocks it covers. The proprietary ratings model projects a stock's total return potential over a 12-month period, including both price appreciation and dividends. Buy, hold or sell ratings designate how the Ratings group expects these stocks to perform against a general benchmark of the equities market and interest rates.

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The following ratings changes were generated on July 25.

Autoliv(ALV Quote) through its subsidiaries, develops, manufactures and supplies automotive safety systems to automotive industry. ALV has been downgraded to hold.

The company's second quarter fiscal year 2008 revenue rose 10% year over year to $1.91 billion, driven by acquisition and favorable currency gains. Product-wise, airbag revenue spurred 7% to $1.21 billion, contributed by 9% growth from favorable currency translations. Sales from seat belt products spiked 16% to $700.30 million, due to 12% growth from favorable currency translations and 2% from AIN-acquisition. Furthermore, sales from Europe, Japan and the rest of World surged 15%, 28% and 25%, respectively.