NEW YORK (Standard&Poor's) May 10, 2007--Standard&Poor's Ratings Services placed its 'B+' long-term and 'B-2' short-term corporate credit ratings and certain other ratings on Goodyear Tire&Rubber Co. on CreditWatch with positive implications, reflecting the company's announcement that it intends to issue common equity and use a substantial amount of proceeds for debt reduction. Proceeds are expected to be at least $725 million, net of fees, to be used to repay approximately $175 million of its 8.625% notes due in 2011 and approximately $140 million of its 9% notes due in 2015. We expect some of the remaining proceeds would be used to repay other debt. If the equity offering is completed and proceeds deployed as
