S&P: Goodyear view stable

Standard & Poor's said it revised the outlook on Goodyear Tire & Rubber Co. (BB-/stable) to stable from positive.

S&P said the outlook revision reflects its view that it does not expect the company's credit measures to improve significantly enough during 2009 to support a higher rating.

The BB- long-term corporate credit rating reflects the issuer's aggressive financial risk profile characterized by weak earnings in North America and a leveraged capital structure, according to the agency.

These factors more than offset the company's position as one of the three largest global tire manufacturers, good geographic diversity, strong distribution and a well-recognized brand name, the agency noted.

Ratings could be upgraded if the company maintains an adjusted debt-to-EBITDA ratio of less than 3.5x or revise the outlook to negative if it exceeds 4x.

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