Increasing emphasis on relatively stable, high-margin, specialty chemicals. Vertical integration and benefit of low-cost feedstocks. Good product, end-market, and geographic diversity of sales Some manufacturing site concentration associated with the large Kingsport, Tenn. facility. History of prudent financial policies. Strong cash flow protection measures. Funds from operations (FFO) to total adjusted debt exceeding 20% over the next two years The stable outlook reflects S&P Global Ratings' expectation that Kingsport, Tenn.-based Eastman Chemical Co.'s credit metrics, including its FFO to total debt, will remain appropriate for the rating at more than 20% on a weighted average basis over the next two years. We don't expect debt-funded shareholder rewards or any increase in debt that could weaken FFO to total debt to
