NEW YORK (Standard&Poor's) March 8, 2004--Standard&Poor's Ratings Services said that Eastman Kodak Co.'s (BBB-/Negative/A-3) ratings and outlook will not be affected by its agreement to buy the 50% of its NexPress joint venture it does not own and other related digital printing operations from Heidelberger Druckmaschinen AG. The purchase broadens Kodak's participation in the emerging commercial digital printing industry, an area it has targeted for expansion. Acquired businesses include NexPress' high-quality, on-demand color commercial printing systems; Heidelberger's high-end, variable data, black and white printers; and related assets. The acquisition is expected to generate moderate losses through 2007, with losses narrowing each year. These operations will be integrated with Kodak's other commercial printing businesses and result in
