S&P affirms Goodyear

Standard & Poor's said it affirmed its BB- corporate credit and other ratings on the Goodyear Tire & Rubber Co. and removed them from Creditwatch, where they had been placed with negative implications on Nov. 13.

The outlook is stable.

"The affirmation reflects its view that the company's credit measures will support the current rating," said S&P credit analyst Lawrence Orlowski.

The agency said it expects adjusted debt to EBITDA to be less than 4x and funds from operations to debt greater than 15%, noting that these credit measures imply that 2009 revenue will decline by 2.5% and gross margin by 18%.

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