Diversified product mix including some that serve relatively stable end markets; Competitive cost position; Use of coal and wood pulp-based feedstocks, which reduces reliance on petrochemicals; and Strong liquidity. Some vulnerability to commodity cycles, raw material price volatility, and economic downturns; Unattractive fundamentals and poor results in the PET business; and Improving, but still somewhat weak, credit metrics for the ratings, hurt by sizable unfunded postretirement liabilities. The ratings incorporate Eastman Chemical Co.'s satisfactory business profile as a diversified global chemicals company and an intermediate financial risk profile. Kingsport, Tenn.-based Eastman's primary products include: Acetate fibers used in cigarette and other filters and textiles; Coatings, additives, solvents, and resins used in paints and adhesives; Performance chemicals and intermediates used in
