Standard&Poor's Ratings Services said that the announcement that Goodyear Tire&Rubber Co. (BB-/Negative/--) is exploring the possible sale of the company's chemical business (basic and high-performance polymers, antioxidants, latex, and adhesive resins with annual revenues of more than $750 million) has no current effect on its ratings or outlook on Goodyear. While completion of a sale and receipt of cash proceeds would be viewed positively, the main concern remains the need for improvement in the weak performance at Goodyear's North American Tire business. Separately, the expected sale in early May 2003 by Arkansas Best Corp. of its 19% interest in Goodyear's commercial tire business back to Goodyear for about $71 million, is manageable within Goodyear's existing liquidity
