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  • dolphinooo dolphinooo Oct 16, 2013 3:40 PM Flag

    S&P assigns junk-grade 'B-' rating to Kodak

    Based on what we know, S&P got it right, IMO ... S&P is not talking about functional printing though, which could make a real difference.

    Sadly, I did not catch the recent run-up into the mid $20's after emergence, which was sort of predictable. Unfortunately, EKOD emerged with a PPS in the $19's, and that did not make much sense from a risk point of view. Next time.


    NEW YORK (AP) -- Standard & Poor's Ratings Services said Monday that it assigned a junk-grade credit rating to Eastman Kodak Co., which emerged from bankruptcy protection in September.

    The Rochester, N.Y.-based photography pioneer has shed many of its products and services. It is now trying to make its way as a much smaller company focused on commercial and packaging printing.

    But S&P predicted that the new Kodak would still have a tough time stabilizing revenues and growing its operating earnings. The ratings agency said that Kodak has a small share of a large, mature and competitive global market for commercial printing. S&P also expects declines in Kodak's commercial film and consumer inkjet businesses.

    However, S&P noted that Kodak's cash balances of more than $800 million give the company a cushion if its financial results are volatile.

    S&P assigned a "B-" corporate credit rating to Kodak, which is now a privately held company. The outlook on the rating is stable.

0.02990.0000(0.00%)Sep 3 1:44 PMEDT