Moody's: Goodyear view to positive

Moody's Investors Service said it affirmed Goodyear Tire & Rubber Co.'s corporate family rating at Ba3 and probability of default rating at Ba3-PD, and revised the outlook to positive from negative.

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

Moody's said the outlook revision incorporates the transformative impact of the $1.15 billion cash contribution to the company's pension plan which reduces pro forma leverage to about 3.9x (inclusive of Moody's standard adjustments) for the year-end Dec. 31 from about 5.3x for the LTM period ending Sept. 30.

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