Solid market shares in the U.S., Europe, and Latin America Diverse tire product line, extensive distribution, and strong brand recognition Successful new-product introductions Favorable U.S. labor contract with the United Steelworkers Need to further improve profitability of North American operations Still-large, underfunded pension obligations Intense competition from large mass producers and smaller, more focused domestic and international players Exposure to volatile prices for raw materials and energy The ratings on The Goodyear Tire&Rubber Co. reflect Standard&Poor's Ratings Services' opinion of Goodyear's aggressive financial risk profile, which is characterized by weak earnings in North America and substantial debt. We characterize the company's business risk profile as fair, which reflects tough global tire industry conditions combined with our
