US CREDIT - Goodyear may not be a good bet yet

Newswire

NEW YORK, June 24 (Reuters) - The turnaround at Goodyear Tire & Rubber Co. continues, but credit investors can't get over the fact that the largest U.S. tiremaker is partly reliant on the ailing U.S. automakers. Goodyear's perceived credit quality weakened in the credit default swap and junk bond markets on Friday, as investors ignored the company's improving operating performance and punished it for being an auto supplier, traders said. The company has made great strides in getting ...

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