S&P:Kodak Rating Still on Watch Negative
Forbes - Debt reduction from the proceeds of the transaction may not fully offset what we regard as a negative shift in the company's business portfolio," said Standard & Poor's credit analyst Tulip Lim. "We are concerned about this, given the weakened
Source: www.forbes.com

NRG Energy Makes $400M Debt Repayment
Forbes - Power producer NRG Energy Inc. said Monday that it completed the debt reduction portion of a previously announced capital allocation program with a $400 million repayment. The company used cash on hand to fund the repayment. Shares of NRG gained 45
Source: www.forbes.com

FOCUS Italy's CDP likely to sell Enel stake to focus on Terna
Forbes - Milan broker Centrosim said a 10 pct stake in Enel would cost the state around 5 bln eur, which would not be good news for its debt reduction plans, even if one way round that might be to redistribute the proceeds of the sale to CDP shareholders by
Source: www.forbes.com

Planned takeover adds a wild card to Harrah's ambitions
Newark Star-Ledger - One of the slides in the presentation showed that the company plans to make debt reduction a priority, as opposed to reinvesting for growth or mergers and acquisitions. That has led many industry observers to expect the owners to shed assets and
Source: www.nj.com

IP's transformation brings in $7B
Memphis Business Journal - The company funded the majority of its debt reduction through divestiture proceeds and cash from operations. In late 2004, International Paper also made voluntary contributions of $1 billion to its U.S. pension fund to address longer-term funding
Source: memphis.bizjournals.com

Galion City Council Begins Work On 2007 Budget
WMFD - Miller, who was appointed by the state to help oversee Galion's finances since the state auditors office placed the city in fiscal emergency two years ago. Galion City Council President Denny Little says he knows the city will have a debt reduction
Source: www.northcentralohio.com