Akron, Ohio-based The Goodyear Tire&Rubber Co. intends to issue $600 million of senior unsecured notes and will use the net proceeds, along with other sources of liquidity, to redeem its outstanding 8.75% notes that mature on Aug. 15, 2020. At the same time, we are lowering our forecast for the company's sales, profitability, and cash flow in 2020 to reflect our elevated uncertainty around how quickly the demand for replacement tires and vehicles will return to pre-coronavirus levels. We are assigning our 'B+' issue-level rating and '4' recovery rating to Goodyear's senior unsecured notes and are placing all of our ratings on the company on CreditWatch with negative implications. We expect to resolve the CreditWatch when we receive
