NEW YORK (Standard&Poor's CreditWire) Sept. 15, 2000--Standard&Poor's today revised its outlook on Eastman Chemical Co. to negative from stable. At the same time, Standard&Poor's affirmed its ratings on the company (see list below). The outlook revision follows the announcement that Eastman will acquire most of the hydrocarbon and rosin resins businesses of Hercules Inc. The proposed resins transaction marks the company's third debt-financed acquisition during the past 18 months and further delays the debt reduction necessary to support the current ratings. The announcement follows Eastman's recent acquisitions of McWhorter (a leading producer of specialty colorants and resins used in paints) and Lawter International, a major supplier of specialty products for the inks and coatings
