Tenneco Inc. said Tuesday it has raised in a public offering $187 million, which the car parts maker will use to repay debt and for general corporate purposes.

Fitch Ratings is predicting a modest recovery for U.S. auto suppliers in 2010 as sales rise and the companies realize benefits from significant cost-cutting this year.

Fitch Ratings is predicting a modest recovery for U.S. auto suppliers in 2010 as sales rise and the companies realize benefits from significant cost-cutting this year.

Fitch Ratings on Thursday upgraded the issuer default rating on auto parts maker Tenneco Inc. by one notch thanks to cost-cutting, a better auto-making environment and a capital-raising effort that should reduce debt.

Tenneco Inc., a car parts maker, said Wednesday it has priced its offering of 12 million shares of common stock at $16.50 per share.