The ratings incorporate Eastman Chemical Co.'s satisfactory business profile as a diversified global chemicals company and an intermediate financial risk profile that reflects our concerns about exposure to economic and chemical cycle downturns. Kingsport, Tenn.-based Eastman's primary products include: Acetate fibers used in cigarette and other filters and textiles; Polyethylene terephthalate (PET) used in beverage, food, and other packaging; Coatings, additives, and solvents used in paints; Materials used to make adhesives; Engineering and specialty polymers used in durable and medical goods, personal and household goods, and packaging; and Performance chemicals and intermediates used in a wide variety of applications. The acetate fiber and PET businesses are more commodity-oriented than the others. However, the acetate fiber market is consolidated and has
