On May 10, 2007, Standard&Poor's Ratings Services placed its 'B+' long-term and 'B-2' short-term corporate credit ratings and certain other ratings on Goodyear Tire&Rubber Co. on CreditWatch with positive implications, reflecting the company's announcement that it intends to issue common equity and use a substantial amount of proceeds for debt reduction. Proceeds are expected to be at least $725 million, net of fees, to be used to repay approximately $175 million of its 8.625% notes due in 2011 and approximately $140 million of its 9% notes due in 2015. We expect some of the remaining proceeds would be used to repay other debt. If the equity offering is completed and proceeds deployed as expected, we would
