The Goodyear Tire&Rubber Co.'s Proposed $1 Billion Senior Unsecured Notes Rated 'BB' (Recovery Rating: '4')

NEW YORK (Standard&Poor's) Nov. 2, 2015--Standard&Poor's Ratings Services today assigned its 'BB' issue-level rating and '4' recovery rating to The Goodyear Tire&Rubber Co.'s proposed $1 billion senior unsecured note issuance. The '4' recovery rating indicates our expectation of average recovery (30%-50%; lower half of the range) in the event of a default. The company plans to use the proceeds from this issuance to redeem its existing $1 billion 8.25% senior unsecured notes. All of our other ratings on The Goodyear Tire&Rubber Co. remain unchanged. For the complete recovery analysis, please see our recovery report on The Goodyear Tire&Rubber Co. to be published shortly after the release of this report on

...+ General Criteria: Group Rating Methodology, Nov. 19, 2013 + General: Corporate Methodology, Nov. 19, 2013 + Management And Governance Credit Factors For Corporate Entities And Insurers, Nov. 13, 2012 + Criteria Guidelines For Recovery Ratings On Global Industrials Issuers' Speculative-Grade Debt, Aug. 10, 2009 RATINGS LIST The Goodyear Tire & Rubber Co. Corporate Credit Rating ##/Stable/-- Ratings Assigned The Goodyear Tire & Rubber Co. Proposed $1 Bil. Snr Unsecrd Nts ## Recovery Rating 4L Complete ratings information is available to subscribers of RatingsDirect at www.globalcreditportal.com and at www.spcapitaliq.com. All ratings affected by this rating action can be found on Standard & Poor's public Web site at www.standardandpoors.com. Use the Ratings search box located in the left column....

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