NEW YORK (May 20, 2005) — Moody's Investors Service has changed Goodyear's rating outlook to stable from negative and confirmed the Akron tire maker's credit ratings.
The actions resulted from the resolution of several of Goodyear's accounting concerns, remediation plans management has implemented to address internal control issues and continued momentum in the company's operating results and liquidity profile, Moody's said.
The ratings firm also said it anticipated that Goodyear's recent improved financial results will be sustained and that the company will maintain a good liquidity profile.