Eastman Kodak Unsecured Debt Recovery Rating Revised To '6', Issue Rating Lowered To 'CCC' - S&P Global Ratings’ Credit Research

Eastman Kodak Unsecured Debt Recovery Rating Revised To '6', Issue Rating Lowered To 'CCC'

Eastman Kodak Unsecured Debt Recovery Rating Revised To '6', Issue Rating Lowered To 'CCC' - S&P Global Ratings’ Credit Research
Eastman Kodak Unsecured Debt Recovery Rating Revised To '6', Issue Rating Lowered To 'CCC'
Published Sep 18, 2009
1057 words — Published Sep 18, 2009
Price US$ 150.00  |  Buy this Report Now

About This Report

  
Abstract:

On Sept. 18, 2009, Standard&Poor's Ratings Services revised its recovery rating on Eastman Kodak Co.'s senior unsecured debt to '6', indicating our expectation of negligible (0% to 10%) recovery in the event of a payment default, from '5'. We lowered the issue-level rating to 'CCC' (two notches lower than the 'B-' corporate credit rating on the company) from 'CCC+', in accordance with our notching criteria for a '6' recovery rating. (For the complete recovery analysis, please see Standard&Poor's recovery report on Eastman Kodak, to be published on RatingsDirect following this report.) On Sept. 16, Eastman Kodak announced that it expects to raise up to $700 million of debt through a series of financing transactions. The proposed

  
Brief Excerpt:

RESEARCH Eastman Kodak Unsecured Debt Recovery Rating Revised To '6', Issue Rating Lowered To '###' Publication date: 18-Sep-2009 Primary Credit Analyst: Tulip Lim, New York (1) 212-438-4061; tulip_lim@standardandpoors.com Secondary...

  
Report Type:

Ratings Action

Ticker
EK
Issuer
Eastman Kodak Co.
GICS
Photographic Products (25202020)
Sector
Global Issuers, Structured Finance
Country
United States
Region
United States
Format:
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Eastman Kodak Co. – 2009/10/09 – US$ 500.00

Summary: Eastman Kodak Co. – 2009/10/09 – US$ 225.00

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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Eastman Kodak Unsecured Debt Recovery Rating Revised To '6', Issue Rating Lowered To 'CCC'" Sep 18, 2009. Alacra Store. May 22, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Eastman-Kodak-Unsecured-Debt-Recovery-Rating-Revised-To-6-Issue-Rating-Lowered-To-CCC-747455>
  
APA:
S&P Global Ratings’ Credit Research. (). Eastman Kodak Unsecured Debt Recovery Rating Revised To '6', Issue Rating Lowered To 'CCC' Sep 18, 2009. New York, NY: Alacra Store. Retrieved May 22, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Eastman-Kodak-Unsecured-Debt-Recovery-Rating-Revised-To-6-Issue-Rating-Lowered-To-CCC-747455>
  
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