S&P foresees differing fortunes for two tyre giants

By Patrick Raleigh ERJ On-line news editor

New York/Tokyo-Tyre makers worldwide are facing increasing competition, pricing pressures from automakers, and higher raw material costs, according to Standard & Poor’s Ratings Services. However, these challenges will impact some companies more than others, two separate S&P reports on Goodyear Tire & Rubber Co. and Bridgestone Corp. show.

S&P has lowered its corporate credit rating on Goodyear to ‘B+’ from ‘BB-’. “The downgrade reflects our view that the weak, albeit improving, operating performance of the company’s North American tyre…

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