New York, November 09, 2016 -- Moody's Investors Service ("Moody's") affirmed Eastman Kodak Company's ("Kodak ") B3 Corporate Family Rating ("CFR") and downgraded the rating on its first lien senior secured term loan to B2 from B1, upon the company's announcement that it reached an agreement with a group of investors to sell $200 million in preferred shares, the proceeds of which along with balance sheet cash will be used to redeem in full, the company's second lien term loan. Moody's also affirmed Kodak's SGL-2 liquidity rating indicating good liquidity. The rating outlook is stable. At the closing of the transaction, Moody's will withdraw the ratings on the second lien term loan.

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