NEW YORK (Standard&Poor's) Feb. 3, 2010--Standard&Poor's Ratings Services today said it has assigned its 'B+' issue-level rating to The Goodyear Tire&Rubber Co.'s new senior unsecured notes of up to $702 million due 2020 being issued to exchange with $650 million of 7.857% notes (rated 'B+') outstanding that are due 2011. At the same time, we assigned our recovery rating of '5', indicating our expectation that lenders will receive modest recovery (10% to 30%) in the event of a default to the 2020 notes. The purpose of the exchange offer is to extend the maturity date of some of its indebtedness that is due in 2011. All of Goodyear's senior unsecured notes, including these notes,
