NEW YORK (Standard&Poor's) Oct. 20, 2005--Standard&Poor's Ratings Services said today that it lowered its corporate credit and secured bank loan ratings on Eastman Kodak Co. to 'B+' from 'BB-' and its senior unsecured debt rating on the company to 'B' from 'B+'. At the same time, Standard&Poor's removed these ratings from CreditWatch, where they were placed on July 21, 2005, with negative implications. The outlook is negative. As of Sept. 30, 2005, the Rochester, N.Y.-based imaging company had $3.6 billion in debt. "The downgrade reflects our reduced confidence with Kodak's profitability and cash flow prospects," said Standard&Poor's credit analyst Steve Wilkinson, citing the ongoing and rapid deterioration of the company's traditional consumer
