NEW YORK (Standard&Poor's) Feb. 11, 2004--Standard&Poor's Ratings Services said today that it assigned its 'B+' senior secured rating to the proposed $650 million senior secured term loan of Akron, Ohio-based Goodyear Tire&Rubber Co. (BB-/Watch Neg/--) and placed the rating on the loan on CreditWatch with negative implications. A '3' recovery rating was assigned to the new term loan. The senior secured and recovery ratings indicate a meaningful (50%-80%) expectation of recovery of principal in the event of a default. At the same time, Standard&Poor's lowered its senior secured rating on Goodyear's existing $1.3 billion U.S. bank facility and its (U.S.) $120 million 5.375% notes due 2006 to 'B+' from 'BB-' because of
