The ratings incorporate Kingsport, Tenn.-based Eastman Chemical Co.'s satisfactory business profile, reflecting good market and cost positions in most of its chemicals, plastics, and fibers businesses, and management policies supportive of a moderate financial profile. Eastman's business profile reflects broad diversification across some differentiated product categories, although operating prospects are still heavily dependent on the company's leading positions in the more commodity-like polyethylene terephthalate (PET) and acetate fibers businesses, which together account for just under half of total sales. Total annual revenues are about $7 billion. Eastman is the world's leading manufacturer of PET resins for the packaging market. PET is used to package products including carbonated soft drinks, water, juice, personal care items, household cleaners, beer, and food. Eastman
