Fitch affirms Goodyear Tire & Rubber ratings
ERJ staff report (BC)
New York - Fitch Ratings has affirmed its 'B+' issuer default rating (IDR) and the various issue ratings of The Goodyear Tire & Rubber Company (GT) and its Goodyear Dunlop Tires Europe B.V. (GDTE) subsidiary reports Reuters.
GT's ratings apply to a $2 billion secured revolving credit facility, a $1.2 billion second lien secured term loan and $2.1 billion of senior unsecured notes. GDTE's ratings apply to a Eur400 million secured revolving credit facility and Eur250 million of senior unsecured notes.
Fitch's rating outlooks for GT and GDTE are Stable.
Goodyear Tire & Rubber Company:
• IDR affirmed at 'B+'
• Secured bank credit facility rating affirmed at 'BB+/RR1'
• Secured second-lien term loan rating affirmed at 'BB+/RR1'
• Senior unsecured ratings affirmed at 'B/RR5'.
Goodyear Dunlop Tires Europe B.V.:
• IDR affirmed at 'B+'
• Secured bank credit facility rating affirmed at 'BB+/RR1'
• Senior unsecured rating affirmed at 'BB/RR2'.
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