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Goodyear’s bonds dropped by up to 2.5 points after reporting a second quarter loss of $0.34/share as compared to a profit of $0.46/share in the same period last year. Its revenues also dropped by 7% YoY to $4.87bn. The tyre-maker’s overall net loss was reported at $208mn vs. a net income of $166mn a year ago. Total debt was $8.8bn compared to $8.4bn at the same time last year. Net debt was at $7.8bn, vs. $7.2bn last year. Overall tyre volumes were down by 10.9% in the Americas and by 19.1% in the EMEA region while only APAC volumes were higher by 5.8%.
Its 5.625% 2023s fell 2.6 points to 85.86, yielding 7.72%