TEXT-S&P cuts Goodyear corporate rating to BB-minus

Newswire

(The following press release was provided by the rating agency) NEW YORK, Dec 24 - Standard & Poor's Ratings Services said today it lowered its corporate credit rating on Goodyear Tire & Rubber Co. to 'BB-' from 'BB+'. At the same time, the rating on the company's $1.3 billion senior bank facility and other senior unsecured debt was lowered to 'BB-' from 'BB+'. All ratings on the company were removed from CreditWatch, where they were placed Oct. 31, 2002. The outlook is now ...

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