AKRON (Feb. 6)—Goodyear is attempting to enhance its financial flexibility by modifying bank loan agreements, including covenants within those pacts, in meetings it's held with lenders. The banks have granted the company waivers until March 7 to comply with covenants that require the firm to pay about $500 million to its pension funds in excess of federally mandated requirements, the company said. Under the waivers, Goodyear has access to about $1.1 billion in two revolving credit facilities, the firm said. Goodyear said it had more than $600 million in cash on hand as of the end of January.
Goodyear attempting to modify loans
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