The ratings incorporate Eastman Chemical Co.'s average business profile, reflecting solid market and cost positions in most of its chemicals, plastics, and fibers businesses, and management policies that support gradual improvement of the financial profile. The company's business profile reflects broad diversification across some differentiated product categories, but has become increasingly dependent on its leading positions in the more commodity-like polyethylene terephthalate (PET) and acetate fibers businesses following the restructuring efforts in the coatings, adhesives, specialty polymers and inks (CASPI) segment. Eastman is the global leader in the manufacture of PET resins, with approximately 20% of the global market. While profitability has been muted by recent capacity additions, annual growth in demand for PET resins remains good and long-term prospects
