NEW YORK (Standard&Poor's) April 14, 2004--Standard&Poor's Ratings Services said today that its 'BB-' corporate credit and other ratings on Goodyear Tire&Rubber Co. remain on CreditWatch with negative implications where they were placed on Dec. 11, 2003. "An internal accounting investigation has now been completed and will result in adjustments to previously reported financial statements, but we have concluded that the adjustments will have no impact on the company's ratings," said Standard&Poor's credit analyst Martin King. "Nevertheless, the continuing CreditWatch placement reflects our intention to review Goodyear's operating prospects, and ratings could still be lowered if it appears that Goodyear will not achieve meaningful improvement in its North American tire operations during the
