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Eastman Kodak's Senior Unsecured Debt Rating Affirmed At 'CCC+', Off CreditWatch (Recovery Rating: 5)

Published Jun 17, 2009

620 words — Published Jun 17, 2009

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Abstract:

NEW YORK (Standard&Poor's) June 17, 2009--Standard&Poor's Ratings Services affirmed the 'CCC+' issue-level ratings on Eastman Kodak Co. and removed them from CreditWatch, where they were placed with negative implications March 5, 2009. The recovery rating remains at '5'. The 'CCC+' issue-level ratings (one notch lower than the corporate credit rating) and the recovery ratings of '5' indicate our expectation of average (30%-50%) recovery in the event of default. (For the complete recovery analysis, see Kodak's recovery report to be published immediately following this release.) At the same time, we withdrew our 'B+' ratings on Eastman Kodak's $1 billion revolving credit facility because the facility has been significantly amended and restated and we are not rating the

Brief Excerpt:

RESEARCH Eastman Kodak's Senior Unsecured Debt Rating Affirmed At '###+', Off CreditWatch (Recovery Rating: 5) Publication date: 17-Jun-2009 Primary Credit Analyst: Minesh Patel, New York (1) 212-438-6410; minesh_patel@standardandpoors.com...

Report Type:

Ratings Action

Ticker

Issuer

Eastman Kodak Co.

GICS

Photographic Products (25202020)

Sector

Global Issuers

Country

United States

Region

United States

Format:

HTML

Eastman Kodak's Rule 415 Shelf Debt Assigned Preliminary Ratings – 2009/08/03 – US$ 150.00

Eastman Kodak Unsecured Debt Recovery Rating Revised To '6', Issue Rating Lowered To 'CCC' – 2009/09/18 – US$ 150.00

Eastman Kodak Co. – 2009/10/09 – US$ 500.00

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Eastman Kodak Co. – 2010/01/05 – US$ 500.00

Eastman Kodak Co. – 2009/03/11 – US$ 500.00

Summary: Eastman Kodak Co. – 2009/03/11 – US$ 225.00

Eastman Kodak Co. Downgraded To 'B-' On Cash Consumption Rate Concerns; Outlook Negative – 2009/03/05 – US$ 150.00

Research Update: Eastman Kodak Co. Corporate Credit Rating Lowered To 'B-' On Cash Consumption Rate Concerns – 2009/03/05 – US$ 225.00

Eastman Kodak 'B' Rating Remains On Watch Negative – 2009/01/30 – US$ 150.00

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MLA:	S&P Global Ratings’ Credit Research. "Eastman Kodak's Senior Unsecured Debt Rating Affirmed At 'CCC+', Off CreditWatch (Recovery Rating: 5)" Jun 17, 2009. Alacra Store. May 22, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Eastman-Kodak-s-Senior-Unsecured-Debt-Rating-Affirmed-At-CCC-Off-CreditWatch-Recovery-Rating-5-728415>

APA:	S&P Global Ratings’ Credit Research. (). Eastman Kodak's Senior Unsecured Debt Rating Affirmed At 'CCC+', Off CreditWatch (Recovery Rating: 5) Jun 17, 2009. New York, NY: Alacra Store. Retrieved May 22, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Eastman-Kodak-s-Senior-Unsecured-Debt-Rating-Affirmed-At-CCC-Off-CreditWatch-Recovery-Rating-5-728415>

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