Moody's rates Goodyear notes B1, view negative

Moody's Investors Service said it assigned a B1 rating to Goodyear Tire & Rubber Co.'s proposed $750 million senior unsecured notes.

The proposed unsecured notes are expected to be used to fund contributions to Goodyear's U.S. pension plans and for general corporate purposes.

In a separate notice, Moody's said it affirmed Goodyear's Ba3 corporate family rating and changed the outlook to negative from stable.

The speculative grade liquidity rating was affirmed at SGL-2.

Goodyear's negative outlook reflects Moody's belief that the company's credit metrics will remain weak for the assigned rating over the near-term, the agency said.

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