NEW YORK (June 9)—Fitch IBCA has assigned an "A" debt rating to the 400 million Euro of 6.375 percent notes due in 2005 issued by Goodyear on June 6. The rating reflects confidence that company operations will continue on an upwswing began in the first quarter of 2000, Fitch said. Goodyear suffered from production capacity constraints and logistical problems that led to poor North American performance in 1999. Corrective measures by management and plans to reduce financial leverage through 2001—in part through non-core unit divestiture—contributed to the favorable rating, Fitch said.
Fitch assigns `A´ rating to Goodyear Euro notes
Rubber News wants to hear from its readers. If you want to express your opinion on a story or issue, email your letter to Editor Bruce Meyer at [email protected].