Standard&Poor's on March 28, 2002, rated Eastman Chemical Co.'s proposed $400 million senior unsecured notes due 2012 and affirmed the corporate credit ratings on the company. Kingsport, Tenn.-based Eastman, with about $5.4 billion of annual sales and approximately $2.2 billion of outstanding debt, ranks among the larger diversified chemical companies in North America. The ratings incorporate Eastman'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. The firm's business profile reflects an increased weighting toward higher-value-added and differentiated product categories and leading positions in PET and acetate fibers businesses. Eastman has enhanced its positions in specialty product categories through a
