U.S. image technology provider Eastman Kodak reported that its cash balance declined to $1.6 billion at Dec. 31, 2010. We believe its rate of cash consumption will remain high in 2011. We are lowering our corporate credit rating on the company to 'CCC' from 'B-'. The rating outlook is negative. The negative rating outlook reflects our expectation that Kodak's liquidity could become strained within the next couple of years. On Feb. 28, 2011, Standard&Poor's Ratings Services lowered its corporate credit rating on Rochester, N.Y.-based Eastman Kodak Co. to 'CCC' from 'B-'. We removed the rating from CreditWatch, where we placed it with negative implications on Jan. 26, 2011. The rating outlook is negative. Issue-level ratings on the company's
