Fitch affirms Goodyear

Fitch Ratings said it affirmed the B+ issuer default rating and the various issue ratings of Goodyear Tire & Rubber Co. and its Goodyear Dunlop Tires Europe BV (GDTE) subsidiary.

The agency said that the Goodyear ratings apply to a $1.5 billion secured revolving credit facility, a $1.2 billion second-lien secured term loan and $2.1 billion of senior unsecured notes while the Goodyear Dunlop ratings apply to a €400 million secured revolving credit facility and €250 million of senior unsecured notes.

The outlooks are stable.

According to Fitch, the ratings reflect the tire manufacturer's strong competitive position as a leading brand in the global replacement and original equipment tire segments and continued market acceptance of the company's higher margin premium tire offerings.

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