Alternative asset management and financial services company Blackstone Group has been engaged as financial adviser by a set of Eastman Kodak debt holders to influence the way the firm revamps itself, Reuters reports. Kodak has announced that it may take on new debt or sell a patent in a multibillion dollar deal to make it through the coming year. The firm has been facing problems due to the failure of its film business.
The existing creditors are worried that the fresh debt raised by Kodak may be placed above the debt they currently hold. These debt investors feel that the producer of imaging and photographic materials and equipment should raise funds by selling assets instead of taking fresh credit.
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