U.S. film manufacturer Kodak continues to seek to sell certain of its intellectual property (IP) and other assets, but did not complete material IP sales in its last quarter and prospects are uncertain. In December 2011, the International Trade Commission judge presiding over patent infringement litigation filed by Kodak said he will delay completing the case until Sept. 21, 2012. Furthermore, liquidity remains weak, challenged by negative EBITDA, unprofitable new businesses, and investment required to bridge declines in the company's legacy film franchise. We are lowering our corporate credit rating on Kodak to 'CCC-' from 'CCC' and placing the ratings on CreditWatch with negative implications. NEW YORK (Standard&Poor's) Jan. 5, 2012--Standard&Poor's Rating Services said today that
