Goodyear Tire&Rubber Co.'s $1.2B Second-Lien Term Loan Rated 'BB' (Recovery Rating: 2) - S&P Global Ratings’ Credit Research

Goodyear Tire&Rubber Co.'s $1.2B Second-Lien Term Loan Rated 'BB' (Recovery Rating: 2)

Goodyear Tire&Rubber Co.'s $1.2B Second-Lien Term Loan Rated 'BB' (Recovery Rating: 2) - S&P Global Ratings’ Credit Research
Goodyear Tire&Rubber Co.'s $1.2B Second-Lien Term Loan Rated 'BB' (Recovery Rating: 2)
Published Mar 29, 2012
1230 words — Published Mar 29, 2012
Price US$ 150.00  |  Buy this Report Now

About This Report

  
Abstract:

NEW YORK (Standard&Poor's) March 29, 2012--Standard&Poor's Ratings Services said today that it has assigned its 'BB' issue-level rating to Akron, Ohio-based The Goodyear Tire&Rubber Co.'s $1.2 billion senior secured second-lien term loan. At the same time, we assigned our recovery rating of '2' to the term loan, indicating our expectation that lenders would receive substantial recovery (70%-90%) in the event of a payment default. (For the recovery analysis, see Standard&Poor's recovery report on Goodyear, to be published on RatingsDirect as soon as possible following the release of this report.) The company is refinancing its domestic credit facilities. The commitment under its senior secured second-lien term loan will remain at $1.2 billion and

  
Brief Excerpt:

RESEARCH Goodyear Tire & Rubber Co.'s $1.2B Second-Lien Term Loan Rated '##' (Recovery Rating: 2) Publication date: 29-Mar-2012 Primary Credit Analyst: Lawrence Orlowski, CFA, New York (1) 212-438-7800; lawrence_orlowski@standardandpoors.com...

  
Report Type:

Ratings Action

Ticker
GT
Issuer
The Goodyear Tire&Rubber Co.
GICS
Tires & Rubber (25101020)
Sector
Global Issuers , Structured Finance
Country
United States
Region
United States
Format:
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Goodyear Tire&Rubber Co.'s $1.2B Second-Lien Term Loan Rated 'BB' (Recovery Rating: 2)" Mar 29, 2012. Alacra Store. May 06, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Goodyear-Tire-Rubber-Co-s-1-2B-Second-Lien-Term-Loan-Rated-BB-Recovery-Rating-2-952496>
  
APA:
S&P Global Ratings’ Credit Research. (). Goodyear Tire&Rubber Co.'s $1.2B Second-Lien Term Loan Rated 'BB' (Recovery Rating: 2) Mar 29, 2012. New York, NY: Alacra Store. Retrieved May 06, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Goodyear-Tire-Rubber-Co-s-1-2B-Second-Lien-Term-Loan-Rated-BB-Recovery-Rating-2-952496>
  
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