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S&P: Goodyear certificates on watch
Standard & Poor's said it placed its BB-ratings on the class A-1 and A-2 certificates from the $46.0 million corporate backed trust certificates Goodyear Tire & Rubber Note-Backed Series 2001-34 Trust on Creditwatch with negative implications.
The agency said that the Creditwatch placement reflects its Nov. 14 placement of the certificates' underlying securities, the 7% notes due March 15, issued by the Goodyear Tire & Rubber Co., on Creditwatch with negative implications.
S&P added that the ratings on the certificates are based solely on the rating assigned to the underlying securities, the 7% notes due March 15, issued by the Goodyear Tire & Rubber Co. (BB-/watch negative).
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