On Jan. 10, 2007, Standard&Poor's Ratings Services said that its ratings, including the 'B+' corporate credit rating, on Eastman Kodak Co. remain on CreditWatch with negative implications, where they were placed on Aug. 2, 2006, following the company's announcement that it had reached an agreement to sell its Health Group to Onex Healthcare Holdings Inc., a subsidiary of Onex Corp., for up to $2.55 billion. The purchase price is composed of $2.35 billion in cash at closing and potential additional consideration of $200 million depending on future operating performance of the Health Group. The company stated that it will use some of the proceeds to entirely pay off its $1.15 billion outstanding senior secured term loan, but the
