S&P affirms Good Year certificates

Standard & Poor's said it affirmed its BB- ratings on the class A-1 and A-2 certificates from the $46 million corporate-backed trust certificates Good Year Tire & Rubber note-backed series 2001-34 trust and removed them from Creditwatch, where they were placed with negative implications on Nov. 18.

The affirmations and Creditwatch removals reflect the Jan. 12 affirmation of the corporate credit rating and other ratings on the Goodyear Tire & Rubber Co. and their removal from Creditwatch negative, S&P said.

The agency added that the trust is a pass-through transaction, and the ratings on the certificates are based solely on the BB- rating assigned to the underlying securities, the 7% notes due March 15, 2028, issued by Goodyear Tire.

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