NEW YORK (Standard&Poor's) May 7, 2009--Standard&Poor's Ratings Services yesterday assigned its 'B+' issue-level rating to The Goodyear Tire&Rubber Co.'s proposed $500 million senior unsecured notes due 2016, and a recovery rating of '5', indicating our expectation that lenders will receive modest recovery (10% to 30%) in the event of a default. Subsequently, the company increased the amount of the note issue to $1 billion. The ratings remain the same. All of Goodyear's senior unsecured notes, including this note, are pari passu with respect to right of payment. "We expect proceeds from the notes to be held until the repayment at maturity of nearly $500 million in senior floating-rate notes due Dec. 1, 2009," said
