Fitch rates Goodyear's notes BB-

Fitch Ratings said it assigned a rating of BB-/RR4 to the Goodyear Tire & Rubber Co.’s proposed issuance of $1 billion in senior notes due 2031 and 2033.

Proceeds from the notes will be used to redeem the company’s $1 billion in 5 1/8% senior notes due 2023.

Goodyear’s long-term issuer default rating is BB-, and outlook is negative.

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