The ratings on Akron, Ohio-based The Goodyear Tire&Rubber Co. reflect Standard&Poor's Ratings Services' expectation that the company's credit measures will continue to show steady, but gradual, improvement in 2012. Goodyear continues to make progress toward its goal of realizing a 5% segment operating margin in North America. Consequently, we expect leverage to fall to about 4x debt to EBITDA by the end of 2012. Although we believe Goodyear will not generate positive free cash flow in 2012 in part because of higher pension contributions and capital expenditures, we expect the company to begin positive cash flow generation in 2013. We believe prospects for cash flow generation are improving, supported by Goodyear's better North American profitability and
