AKRON (Sept. 30, 2009)—Goodyear is one of the 20 largest U.S. companies most likely to declare bankruptcy, according to a list compiled by an analysis company. Won't happen, according to another tire industry analyst.
Audit Integrity Inc., a Los Angeles-based company that markets itself as a provider of independent and sometimes critical analysis of corporate finances and governance issues, said it analyzed the prospects of 2,700 U.S. public companies with assets of $100 million. The firm said it assessed the risk they face from factors, and found Goodyear has a 6.9-percent chance of declaring bankruptcy next year.
Analyst Saul Ludwig, who follows Goodyear for Cleveland-based KeyBanc Capital Markets Inc., said he wasn't putting much credence in the Audit Integrity report.
Goodyear, in a written response to the report, said Audit Integrity ranked the company as the sixth most trustworthy last year, and that its liquidity remains solid.”