The ratings incorporate Eastman Chemical Co.'s above-average business profile, reflecting solid market and cost positions in most of its chemicals, plastics, and fibers businesses, as well as expectations for prudent financial management policies until business conditions improve. Eastman recently announced that it has discontinued efforts to spin off its specialty chemicals and plastics. The transaction, which was postponed during November 2001, was expected to separate the company's specialty chemical businesses from the more commodity-like PET, polyethylene, and acetate fibers segment. While significant from a prospective business mix and strategy standpoint, this announcement has not materially affected credit quality given the company's current financial profile. Kingsport, Tenn.-based Eastman, with about $5.5 billion of annual sales and global coverage, ranks among the
