Goodyear Gets Financial Breathing Space

Goodyear has been in talks with its main bank lenders to modify certain loan agreements and covenants. Robert Keegan, president and CEO, said that this action “should provide us the financial resources, including access to capital markets, to meet the ongoing needs of our business and drive our turnaround.” Under the agreements, Goodyear will have an extended time to make a required $500 million contribution to its pension fund and will have full access to $1.