On Oct. 20, 2005, Standard&Poor's Ratings Services lowered its corporate credit and secured bank loan ratings on Eastman Kodak Co. to 'B+' from 'BB-' and its senior unsecured debt rating on the company to 'B' from 'B+'. At the same time, Standard&Poor's removed these ratings from CreditWatch, where they were placed on July 21, 2005, with negative implications. The outlook is negative. As of Sept. 30, 2005, the Rochester, N.Y.-based imaging company had $3.6 billion in debt. The downgrade reflects Standard&Poor's reduced confidence with Kodak's profitability and cash flow prospects in light of the ongoing and rapid deterioration of its traditional consumer imaging business, the unproven profit potential of its emerging digital imaging businesses,
