The ratings incorporate Kingsport, Tenn.-based Eastman Chemical Co.'s satisfactory business profile as a diversified global chemicals company with trailing-12-month sales of $6.2 billion and its intermediate financial risk profile. 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. In January 2011, Eastman sold its polyethylene terephthalate (PET) business and related assets and technology to DAK Americas LLC for $615 million, with expected net proceeds of about $505 million after tax. PET is used in beverage, food, and other packaging. Plagued by oversupply, this business had been a weak performer in recent
