Goodyear Tire has $800 million set aside for repaying debt, CFO says

By Devika Patel

Knoxville, Tenn., Jan. 11 – Goodyear Tire & Rubber Co. has large sums of cash that have been allocated to repay debt.

“We have $800 million to $900 million allocated for debt repayment,” executive vice president and chief financial officer Laura Thompson said at the 2017 Deutsche Bank Global Auto Industry Conference in Detroit on Wednesday.

Thompson said that the company is striving to change its rating to investment grade from high yield.

“We are very committed to getting our investment-grade rating.”

Goodyear is an Akron, Ohio-based tire company.

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