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Goodyear Debt Rating Raised by Duff & Phelps

6 May 1998

Goodyear Debt Rating Raised by Duff & Phelps

    AKRON, Ohio, May 6 -- Duff & Phelps Credit Rating Agency has
raised its rating on The Goodyear Tire & Rubber Company's senior unsecured
debt to A- from BBB+ and its commercial paper, to D-1- from D-2.
    "The upgrade recognizes Goodyear's focus on, and progress toward, its
business and financial strategies," said Rich Hauman, Goodyear vice president
and treasurer, adding that the rating is the company's highest from DCR since
February 1987.
    "The upgrade reflects the multiyear improvement in credit measures
resulting from Goodyear's efforts to contain costs through improved plant
productivity and tightly controlled selling, general and administrative
expense levels," DCR said in announcing the upgrade.
    "The company's improved cost structure and increasing geographic
diversification has reduced the cyclical sensitivity of its domestic tire
business...Goodyear has a strong market position in the global tire industry,
and geographic diversification has improved as the company has pursued growth
with modest acquisitions and minority interest buyouts in Central Europe, Asia
and Latin America."
    The company also cited Goodyear's new product and process technologies,
free cash flow levels, the sale of the oil transportation segment and
"substantial available funding for strategic investments while maintaining
current credit quality."

SOURCE  Goodyear Tire & Rubber Company