The ratings incorporate Eastman Chemical Co.'s satisfactory business profile as a diversified global chemicals company with trailing-12-month sales of $6.3 billion, and an intermediate financial risk profile. Kingsport, Tenn.-based Eastman's primary products include: Acetate fibers used in cigarette and other filters and textiles; Coatings, additives, solvents, and resins used in paints and adhesives; Performance chemicals and intermediates used in a wide variety of applications; and Specialty plastics. Eastman recently agreed to sell its polyethylene terephthalate (PET) business and related assets and technology to DAK Americas LLC for total cash proceeds of about $600 million. PET is used in beverage, food, and other packaging. Plagued by oversupply, this business had been a weak performer in recent years. Eastman's business risk profile
