Eastman Chemical Co. plans to issue $250 million of senior unsecured notes. We assigned a 'BBB' senior unsecured debt rating to the proposed issue. We affirmed our ratings on Eastman, including the 'BBB' long-term and 'A-3' short-term corporate credit ratings. The negative outlook reflects cyclically depressed credit metrics and our concern that, although strengthening, they may not return to levels appropriate for the ratings in the near term. On Oct. 28, 2009, Standard&Poor's Ratings Services assigned its 'BBB' senior unsecured debt rating to Eastman Chemical Co.'s proposed offering of $250 million of senior unsecured notes due 2019. At the same time, we affirmed our existing ratings on the company, including the 'BBB' long-term and 'A-3' short-term corporate credit
