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Research Update: Eastman Kodak Co. Cut To 'D' On Bankruptcy Protection Filing Jan 12
Standard & Poors, Jan 2012
Abstract
On Jan. 19, 2012, Eastman Kodak Co. announced that it and its U.S. subsidiaries filed voluntary petitions for chapter 11 reorganization in the U.S. Bankruptcy Court for the Southern District of New York. We are lowering our corporate credit rating and issue-level ratings to 'D' and removing the ratings from CreditWatch with negative implications. On Jan. 19, 2012, Standard & Poor's Ratings Services lowered its long-term corporate credit rating on Rochester, N.Y.-based Eastman Kodak Co. to 'D' from 'CCC-' and removed the ratings from CreditWatch with negative implications. The downgrade follows Kodak's announcement earlier today that it and its U.S. subsidiaries filed voluntary petitions for chapter 11 reorganization in the U.S. Bankruptcy Court for the Southern District of New York....
Companies mentioned in this report are: Eastman Kodak Co.
Action: Downgraded
Action: Removed From CreditWatch
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.
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