On March 7, 2007, Standard&Poor's Ratings Services assigned its 'B+' corporate credit rating to Rochester, N.Y.-based Carestream Health Inc. At the same time, 'B+' bank loan ratings (the same as the corporate credit rating) and '2' recovery ratings were assigned to the company's proposed $150 million revolving credit facility and $1.5 billion first-lien senior secured term loan, indicating expectation of substantial recovery of principal (80%-100%) in the event of a default. In addition, Standard&Poor's assigned its 'B' bank loan rating (one notch lower than the corporate credit rating) and '3' recovery rating to the company's $440 million second-lien senior secured term loan, indicating meaningful (50%-80%) recovery of principal in the event of a payment default. The
