On Dec. 11, 2003, Standard&Poor's Ratings Services placed its 'BB-' corporate credit rating and other ratings on Akron, Ohio-based Goodyear Tire&Rubber Co. on CreditWatch with negative implications following the company's announcement that an ongoing internal investigation has identified possible improper accounting issues in Europe. The magnitude or extent of the accounting issues has not been determined. Goodyear has total debt of about $6 billion (including operating leases and sold accounts receivable) and underfunded pension and postemployment benefit obligations of $4.8 billion as of Dec. 31, 2002. The latest announcement raises potential accounting concerns in a Goodyear operation that has been seen as solidly profitable. Ratings could be lowered if the investigation results in material accounting adjustments,
