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.