Bulletin: Ratings On Goodyear Tire&Rubber Co. Not Affected By $600 Million Drawdown - S&P Global Ratings’ Credit Research

Bulletin: Ratings On Goodyear Tire&Rubber Co. Not Affected By $600 Million Drawdown

Bulletin: Ratings On Goodyear Tire&Rubber Co. Not Affected By $600 Million Drawdown - S&P Global Ratings’ Credit Research
Bulletin: Ratings On Goodyear Tire&Rubber Co. Not Affected By $600 Million Drawdown
Published Sep 25, 2008
Published Sep 25, 2008
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Abstract:

NEW YORK (Standard&Poor's) Sept. 25, 2008--Standard&Poor's Ratings Services said today that its ratings on The Goodyear Tire&Rubber Co. (BB-/Positive/--) are not immediately affected by the company's announcement today that it will draw down $600 million of its U.S. revolving credit facility because Goodyear's access to $360 million of cash invested with The Reserve Primary Fund has been delayed temporarily. Once the drawdown has been completed, we believe the company's cash position and available credit facilities will be sufficient to support near-term cash needs. In light of the anxious state of the capital markets, we believe the company's action reflects prudent steps to minimize the effects of any unexpected credit disruptions. Although recent events have

  
Report Type:

Bulletin

Ticker
Issuer
GICS
Tires & Rubber (25101020)
Sector
Automotive , Commercial MBS , Corporations , Global Issuers , Structured Finance
Country
Region
Format:
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S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Bulletin: Ratings On Goodyear Tire&Rubber Co. Not Affected By $600 Million Drawdown" Sep 25, 2008. Alacra Store. May 09, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-Ratings-On-Goodyear-Tire-Rubber-Co-Not-Affected-By-600-Million-Drawdown-673379>
  
APA:
S&P Global Ratings’ Credit Research. (). Bulletin: Ratings On Goodyear Tire&Rubber Co. Not Affected By $600 Million Drawdown Sep 25, 2008. New York, NY: Alacra Store. Retrieved May 09, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-Ratings-On-Goodyear-Tire-Rubber-Co-Not-Affected-By-600-Million-Drawdown-673379>
  
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