NEW YORK (Standard&Poor's) Feb. 25, 2010--Standard&Poor's Ratings Services today affirmed its ratings on Eastman Kodak Co.'s second-lien senior secured notes due 2018, following the company's upsizing of the deal to $500 million from $400 million. We rated the notes 'B-' (at the same level as the 'B-' corporate credit rating on the company) with a recovery rating of '3', indicating our expectation of meaningful (50% to 70%) recovery for noteholders in the event of a payment default. (For the recovery analysis, see Standard&Poor's recovery report on Eastman Kodak, to be published on RatingsDirect immediately following the release of this report.) The company plans to use net proceeds to repurchase its existing $300 million second-lien
