Broad business diversification, with leading positions in PET and acetate fibers; Competitive cost position due to scale of operations, significant focus on operating efficiency, leading technology, and a considerable level of vertical integration; Use of coal and wood pulp-based feedstocks, which reduces reliance on petrochemicals; and Moderate financial policies. Some vulnerability to commodity cycles, raw material price volatility, and economic downturns; Declining, but still sizable, unfunded postretirement liabilities; and Risks associated with large planned projects. The ratings incorporate Kingsport, Tenn.-based Eastman Chemical Co.'s satisfactory business profile, reflecting good market and cost positions in most of its chemicals, plastics, and fibers businesses and management policies supportive of a moderate financial profile. Eastman's business profile reflects broad diversification across some differentiated product
