Moody's rates Goodyear Europe notes Ba3

Moody's Investors Service said it assigned a Ba3 rating to Goodyear Europe BV's planned €300 million of senior unsecured guaranteed notes.

Parent Goodyear Tire & Rubber Co.'s ratings, including the B1 corporate family rating, the Ba2 senior secured second-lien term loan rating, the B2 senior unsecured guaranteed notes rating and the B3 senior unsecured unguaranteed notes rating are all unaffected.

The proceeds are expected to be used to redeem the €250 million of senior unsecured guaranteed notes due 2023, also rated Ba3, in a largely debt-neutral transaction.

The outlook is stable.

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