U.S. health care and dental imaging equipment manufacturer Carestream has announced a dividend recapitalization. We are assigning a 'BB-' rating to the company's proposed $2 billion senior secured credit facility. We are also affirming our 'B+' corporate credit rating on the company. The stable outlook reflects our expectation that Carestream will maintain credit measures consistent with the rating. NEW YORK (Standard&Poor's) Feb. 16, 2011--Standard&Poor's Ratings Services said today that it assigned its 'BB-' issue-level rating (one notch above the company's corporate credit rating) to Rochester, N.Y.-based Carestream Health Inc.'s proposed new $2 billion senior secured credit facility. The recovery rating is '2', indicating our expectation of substantial (70%-90%) recovery in the event of a default scenario.
