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, and prudent financial management policies that should support gradual improvement to the financial profile. The firm's business profile reflects broad diversification across some higher value-added and differentiated product categories, and leading positions in the more commodity-like polyethylene terephthalate (PET) and acetate fibers businesses. Eastman is the global leader in the manufacture of PET resins, with approximately 20% of the global market. Annual growth in demand for PET resins remains solid and long-term prospects for the product are attractive. Strong demand is bolstered by continued geographic penetration, superior performance characteristics, attractive market economics, and technology advances leading
