The Goodyear Tire&Rubber Co.'s Senior Unsecured Notes Due 2031 And 2033 Rated 'B+' (Recovery: '4') On Watch Positive - S&P Global Ratings’ Credit Research

The Goodyear Tire&Rubber Co.'s Senior Unsecured Notes Due 2031 And 2033 Rated 'B+' (Recovery: '4') On Watch Positive

The Goodyear Tire&Rubber Co.'s Senior Unsecured Notes Due 2031 And 2033 Rated 'B+' (Recovery: '4') On Watch Positive - S&P Global Ratings’ Credit Research
The Goodyear Tire&Rubber Co.'s Senior Unsecured Notes Due 2031 And 2033 Rated 'B+' (Recovery: '4') On Watch Positive
Published Mar 31, 2021
3 pages (1310 words) — Published Mar 31, 2021
Price US$ 150.00  |  Buy this Report Now

About This Report

  
Abstract:

NEW YORK (S&P Global Ratings) March 24, 2021--S&P Global Ratings today assigned its 'B+' issue-level rating and '4' recovery rating to The Goodyear Tire&Rubber Co.'s proposed $1.0 billion senior unsecured notes due 2031 and 2033. The '4' recovery rating indicates our expectation for average (30%-50%; rounded estimate: 30%) recovery for the senior unsecured lenders in the event of a payment default. At the same time, we placed the issue-level rating on CreditWatch with positive implications in-line with all of our existing ratings on Goodyear. We expect to resolve the CreditWatch upon the close of the company's purchase of Cooper Tire&Rubber Co., which we anticipate will occur in the second half of 2021. The company plans to

  
Brief Excerpt:

...- General Criteria: Group Rating Methodology, July 1, 2019 - Criteria | Corporates | General: Corporate Methodology: Ratios And Adjustments, April 1, 2019 - Criteria | Corporates | General: Recovery Rating Criteria For Speculative-Grade Corporate Issuers, Dec. 7, 2016 - Criteria | Corporates | General: Methodology And Assumptions: Liquidity Descriptors For Global Corporate Issuers, Dec. 16, 2014 - Criteria | Corporates | General: Corporate Methodology, Nov. 19, 2013 - General Criteria: Methodology: Industry Risk, Nov. 19, 2013 - General Criteria: Country Risk Assessment Methodology And Assumptions, Nov. 19, 2013...

  
Report Type:

Ratings Action

Ticker
GT
Issuer
Goodyear Tire&Rubber Co. (The)
GICS
Tires & Rubber (25101020)
Sector
Global Issuers , Structured Finance
Country
United States
Region
United States
Format:
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S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "The Goodyear Tire&Rubber Co.'s Senior Unsecured Notes Due 2031 And 2033 Rated 'B+' (Recovery: '4') On Watch Positive" Mar 31, 2021. Alacra Store. May 05, 2025. <http://www.alacrastore.com/s-and-p-credit-research/The-Goodyear-Tire-Rubber-Co-s-Senior-Unsecured-Notes-Due-2031-And-2033-Rated-B-Recovery-4-On-Watch-Positive-2620349>
  
APA:
S&P Global Ratings’ Credit Research. (). The Goodyear Tire&Rubber Co.'s Senior Unsecured Notes Due 2031 And 2033 Rated 'B+' (Recovery: '4') On Watch Positive Mar 31, 2021. New York, NY: Alacra Store. Retrieved May 05, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/The-Goodyear-Tire-Rubber-Co-s-Senior-Unsecured-Notes-Due-2031-And-2033-Rated-B-Recovery-4-On-Watch-Positive-2620349>
  
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