(Reuters) - Goodyear earlier this month said it completed the sale of
26 million shares of common stock, raising net proceeds of $834
million, part of which will be used to redeem two issues of
senior notes.
"The equity offering is another step in Goodyear's
continuing trend of addressing its aggressive financial risk
profile, which has been characterized by low earnings in North
America, a leveraged capital structure, and significant
underfunded employee benefit liabilities," S&P said in a
statement.
Read more at Reuters.com Bonds News
26 million shares of common stock, raising net proceeds of $834
million, part of which will be used to redeem two issues of
senior notes.
"The equity offering is another step in Goodyear's
continuing trend of addressing its aggressive financial risk
profile, which has been characterized by low earnings in North
America, a leveraged capital structure, and significant
underfunded employee benefit liabilities," S&P said in a
statement.
Read more at Reuters.com Bonds News
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