Moody's Archives - Page 2 of 2

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.

11th January 2007/by Tyrepress Editors

Moody’s Gives Matador A2 Rating

Product News

Moody’s agency assigned four new national scale ratings in the Czech Republic and Slovakia – the Matador Group among them. The long-term A2 rating suggests the Slovakian manufacturer has a stable future outlook and means confirmation of favourable investment conditions for Matador Group. At the end of October the news that Continental was in “discussions” with Matador Group’s Rubber Division surfaced.

23rd November 2006/by Tyrepress Editors

Moody’s Cuts Michelin Debt Rating

Product News

Moody’s Investors Service has reportedly downgraded Michelin’s long-term debt rating to Baa3 from Baa2, and the short term rating to Prime-3 from Prime-2. The outlook is stable, Moody’s added in the Forbes/AFX report.

9th October 2006/by Tyrepress Editors

Rating Agency Reviews Cooper’s Debt Rating

Product News

Moody’s Investors Service is reviewing and may downgrade the debt rating for Findlay’s Cooper Tire & Rubber Co, the rating agency has said. Cooper Tire officials told Moody’s they expect to use $100 million to $200 million of proceeds from the nearly $1.2 billion sale of Cooper-Standard to reduce debt, the agency said. Other proceeds will be used for a “significant amount of stock repurchases.” However, the $100 million to $200 million amount would not lower debt enough, and repurchasing shares would increase financial risk, according to Moody’s.

2nd February 2005/by Tyrepress Editors

Credit Rating Cut For Goodyear

Product News

In the USA, Moody’s Investors Service became the second credit-rating organisation this year to downgrade Goodyear’s credit rating. Weak sales, and the prospect of little improvement this year, were the main reasons given. The cut means that Moody’s have reduced Goodyear’s credit rating to junk status.

17th June 2002/by Tyrepress Editors

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