On Oct. 31, 2002, Standard&Poor's Ratings Services placed its 'BB+' corporate credit rating on Goodyear Tire&Rubber Co. on CreditWatch with negative implications due to concern over Goodyear's financial performance relative to expectations and the likely need to dedicate substantial near-term cash flow to address its underfunded pension benefit obligation. Akron, Ohio-based Goodyear is the world's largest tire manufacturer, supplying products to both the replacement and original equipment markets. The company's total debt, unadjusted for operating leases or trade receivables securitization, totaled $3.6 billion at Sept. 30, 2002, including $687 million of debt due within one year. The CreditWatch listing follows the announcement of third-quarter 2002 results showing EBIT underperformance, relative to Standard&Poor's expectations, due
