Moody's rates Goodyear notes B2

Moody's Investors Service said it assigned a B2 rating to the Goodyear Tire & Rubber Co.’s proposed $1 billion senior guaranteed notes.

The proceeds from the notes are expected to be used to redeem the existing 5 1/8% guaranteed senior notes due 2023.

Moody’s said the ratings reflect Goodyear’s strong global position as a manufacturer of aftermarket and original equipment tires supported by a leading market share position in North America, good scale and growth in higher-margin 17-inch and larger tires.

The outlook is stable.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.