AKRON (April 19)—Goodyear's lenders have amended the terms of loans to the tire maker to extend until May 19 its deadline for filing its 2003 annual results with the Securities and Exchange Commission.
Under terms of the extension, the company, which said last week it would not be able to file its annual report by an April 19 deadline, will be able to access its credit facilities or obtain letters of credit, Goodyear said.
However, it added, the firm does not see a need to access the funds before the new filing deadline.
The company completed an investigation into European accounting operation last week and will record a reduction in net income of about $65 million for the results originally posted between 1997 and 2003.
The latest adjustments put the firm's income reduction for the seven-year period at $149.7 million.