Leading brand name and dominant global position in medical and dental film; Sizable equity investment from financial sponsor Onex Partners L.P.; and Low capital intensity (capital expenditures to sales of about 2%). Shift in technology from analog to digital has significantly hampered growth prospects in the film and printing business; Declining demand for high-margin photographic film and supplies; Significant exposure to raw material costs; and Pricing pressure on digital cameras and film. The ratings on Carestream Health Inc. reflect the firm's weak business risk profile and aggressive financial risk profile. Rochester, N.Y.-based Carestream manufactures and sells traditional film and digital imaging products in the rapidly changing and challenging diagnostic imaging industry. Products include analog film, laser imagers, digital print film,
