Goodyear's 'B+' corporate credit and other ratings remain on CreditWatch with negative implications where they were placed Oct. 16, 2006, because of the potential for business disruptions and earnings pressures that could result from the ongoing labor dispute at most of the company's North American tire plants. Pro forma for $1 billion of new debt recently sold, Goodyear has total debt (including the present value of operating leases and underfunded employee benefit liabilities) of about $14 billion. Proceeds from the new debt issues will be used to refinance $515 million of debt coming due in the next six months, and for general corporate purposes. The new capital raised Goodyear's already high debt levels, but will improve liquidity by increasing the
