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. While the ratings model is quantitative, it uses both subjective and objective elements. For instance, subjective elements include expected equities market returns, future interest rates, implied industry outlook and company earnings forecasts. Objective elements include volatility of past operating revenue, financial strength and company cash flows. However, the rating does not incorporate all of the factors that can alter a stock's performance. For example, it doesn't always factor in recent corporate or industry events that could affect the stock price, nor does it include recent technology developments and competitive dynamics that may affect the company. For those reasons, we believe a rating alone cannot tell the whole story, and that it should be part of an investor's overall research. The following ratings changes were generated on July 25. Autoliv ( ALV) 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.