S&P Puts Corp-Bckd Goodyear 2001-34 Tr on Watch Neg

    NEW YORK--Standard & Poor's--Nov. 7, 2001-- Standard & Poor's today placed its triple-'B' rating on the class A-1 of Corporate Backed Trust Certificates Goodyear Tire & Rubber Note-Backed Series 2001-34 Trust's corporate bond-backed certificates on CreditWatch with negative implications.
    The CreditWatch placement reflects the Nov. 1, 2001 rating action taken on Goodyear Tire & Rubber Co. relating to concern that competitive pressures and weakening demand could delay the expected improvement in the company's financial profile that is factored into existing ratings.
    This synthetic issue is a swap-independent synthetic transaction that is weak-linked to the underlying collateral, Goodyear Tire & Rubber Co. debt.