Solid market shares in the U.S., Europe, and Latin America Diverse product line, extensive distribution, and strong brand recognition Successful new product introductions Improving profitability Large, underfunded employee benefit obligations Intense competition from large mass producers and smaller, more focused domestic and international players Very high and increasing raw material and energy prices The relatively weak profitability and cash flow generation of its largest business unit, North American Tire (NAT). The ratings on The Goodyear Tire&Rubber Co. reflect the Akron, Ohio-based company's stressed financial profile characterized by low earnings in North America, a highly leveraged capital structure, and heavy underfunded employee benefit liabilities. These factors more than offset the company's business strengths, including its position as one of
