Goodyear Receives Higher Rating

With the hostilities between Goodyear and the USW now officially over, Standard & Poor’s have affirmed the B+ rating on Goodyear’s corporate credit and removed the company’s debt from negative CreditWatch.

The company was placed on CreditWatch in mid October 2006 due to the threat of business disruption and uncertain earnings during the strike period. Goodyear has a total debt of approximately US$12 billion.

Goodyear Tire & Rubber share prices leapt to a 52 week high in the first week of January following the announcement of the company’s revised credit status.