NEW YORK (Standard&Poor's) June 24, 2002--Standard&Poor's said today that it assigned its preliminary double-'B'-plus senior unsecured, preliminary double-'B'-minus subordinated, and preliminary single-'B'-plus trust preferred securities ratings to Goodyear Tire&Rubber Co.'s $2.0 billion Rule 415 shelf registration. The preferred securities may be issued by Goodyear Capital Trust I, Goodyear Capital Trust II, and/or Goodyear Capital Trust III. Net proceeds from the sale of the securities are to be used to repay outstanding debt. At the same time, the double-'B'-plus long-term and single-'B' short-term corporate credit ratings on the company were affirmed. Akron, Ohio-based Goodyear is the world's largest tire manufacturer, and has a total debt of $4.9 billion. "Goodyear has reported very disappointing financial results
