UPDATE 2-Moody's cuts Goodyear's long-term rating

Newswire

(Adds S&P statement on Goodyear) NEW YORK, March 20 (Reuters) - Moody's Investors Service on Thursday cut its long-term debt ratings on Goodyear Tire & Rubber Co. deeper into junk, citing struggles at the tire maker's largest unit, North American Tire. Goodyear, the world's largest tire company by unit sales, is working with its lenders to restructure some of its loan agreements into 2005 and has received a loan waiver extension through April 4. Its tire division has suffered ...

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