S&P trims Goodyear Dunlop notes to BB

Standard & Poor’s said it lowered its issue-level rating on Goodyear Dunlop Tires Europe BV’s €250 million senior unsecured notes to BB from BB+ and revised its recovery rating on the notes to 3 from 2.

The 3 recovery rating indicates an expectation of meaningful recovery (50%-70%; upper half of the range) in the event of a default. All of our other issue-level and recovery ratings on the Goodyear Tire & Rubber Co. remain unchanged.

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