Leading positions in certain areas of digital imaging; and Good geographic diversity, with nearly 60% of sales coming from outside of the U.S. Declining prospects for Eastman Kodak Co.'s conventional imaging businesses as these markets transition to digital technologies; Still-developing and highly competitive markets for digital imaging; Pressure on cash flow because of cash restructuring costs and margin contraction; and Highly leveraged financial profile because of acquisitions made to help improve growth prospects in digital markets. The rating reflects Standard&Poor's Ratings Services' concern about Eastman Kodak Co.'s earnings and cash flow prospects in light of the ongoing and rapid deterioration of its traditional consumer imaging business, the unproven profit potential of its consumer and nonconsumer digital imaging businesses,
