NEW YORK (Standard&Poor's) Sept. 16, 2005--Standard&Poor's Ratings Services said today that it assigned its 'BB' rating to Eastman Kodak Co.'s (BB/Watch Neg/--) proposed $2.7 billion senior secured bank facility and placed this rating on CreditWatch with negative implications. At the same time, Standard&Poor's assigned a recovery rating of '2' to this facility, indicating the expectation of a substantial recovery of principal (80%-100%) in a payment default scenario. All ratings other than the recovery rating remain on CreditWatch with negative implications, based on continued concern about Kodak's profitability and cash flow as a result of plummeting consumer film sales, uncertain digital profit potential, high cash restructuring costs, and economic uncertainty. As of June 30, 2005,
