...- We anticipate that a global economic slowdown in 2020 will dampen demand and earnings at Eastman Chemical Co.'s businesses, especially in the transportation and building and construction end markets. - We are lowering our issuer and issue-level credit ratings on the company to '###-' from '###'. As a result, we are also lowering the company's short-term rating to 'A-3' from 'A-2.' - The stable outlook reflects our belief that the ongoing recession and slowdown in many of the company's operating sectors will pressure fiscal 2020 EBITDA and credit measures, but we expect some recovery in fiscal 2021. - We continue to anticipate that funds from operations (FFO) to total debt will be in the 20%-30% range, albeit on the low end of the range. We believe weighted average credit measures could weaken more than our base case depending on the severity of the macroeconomic downturn; however, we believe there is some cushion at the new, lower rating....
