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One of American's biggest companies, Eastman Kodak, which invented the hand-held camera, has filed for bankruptcy protection.
The 130-year-old company with 1,100 digital patents, has received a $950 million, 18-month credit facility from Citigroup for a revival.
"The board of directors and the entire senior management team unanimously believe that this is a necessary step and the right thing to do for the future of Kodak," Chairman and Chief Executive Antonio M Perez said in a statement.
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