On May 25, 2004, Standard&Poor's Ratings Services lowered its corporate credit rating on Goodyear Tire&Rubber Co. to 'B+' from 'BB-' and removed it from CreditWatch, where it was placed Dec. 11, 2003. Other ratings were also lowered and removed from CreditWatch. The downgrade reflects Standard&Poor's view that the weak, albeit improving, operating performance of the company's North American tire operations, along with Goodyear's heavy schedule of debt maturities, pension funding, and other cash obligations during the next few years, will support a financial profile consistent with the now-lower rating. Although credit protection measures are currently stretched for the rating, they are expected to gradually improve, and liquidity remains adequate. Akron, Ohio-based Goodyear has total
