NEW YORK, May 10 (Reuters) - Moody's Investors Service on Thursday raised its ratings on Goodyear Tire & Rubber Co. , citing the tire maker's plan to sell stock and use proceeds to reduce debt.
Goodyear said on Wednesday it plans to raise up to $834 million in net proceeds through a public stock offering to complete debt buybacks and to fund growth in its tire business. For details, see [ID:nN09299411]
The announcement "marks important further progress in the ...
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