Goodyear Receives Credit Thumbs Up

Moody’s Investors Service has revised its rating for Goodyear Tire & Rubber Co. from negative to stable following the signing of the new three-year USW contract. This move comes days after Standard & Poors upgraded Goodyear to a B+ rating.

In a statement, a representative of the investment service said “Moody’s would expect the company over time to achieve significant efficiencies from the new contract and other restructuring actions.” Given Goodyear’s stable outlook it is unlikely that their rating will be lowered again during the next 12 to 18 months.