TEXT-S&P affirms Goodyear Tire & Rubber Co

Newswire

(The following statement was released by the rating agency) Aug 20 - Standard & Poor's Ratings Services said today that it has affirmed its 'B+' issue-level rating on Akron, Ohio-based The Goodyear Tire & Rubber Co.'s (Goodyear Tire) issuance of $100 million in 8.25% senior unsecured notes due Aug. 15, 2020. At the same time, we affirmed our recovery rating of '5' to the notes, indicating our expectation that lenders would receive modest recovery (10%-30%) in the event of a ...

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